Is 'Sell in May and go away' still a smart investing strategy in the coronavirus era?
Sell in May and go away! It is one of the most well-known maxims in the investing world, but it may not necessarily hold true this time around as investors face one of the most significant public-health crises in history.
Markets have enjoyed a solid run up April thus far, following a withering bout of selling prompted by the COVID-19 pandemic that has infected well over three million people—1 million in the U.S. alone—and claimed the lives of nearly 230,000 globally, according to data aggregated by Johns Hopkins University.
The monthly rally for the Dow and S&P 500 would mark their best since 1987 and the best April since 1938, according to Dow Jones Market Data. The Nasdaq Composite’s rise would be its best since 2000 and its best April on record, while the small-capitalization Russell 2000 index RUT, -3.82% is on track for its sharpest monthly rise since 2011 and its best April since 2009.
That said, Detrick says the April bounce for stocks means “a well-deserved pullback during these troublesome months is quite possible.”
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