Wow, stocks are ripping higher. Even $AAPL is up today! All market averages are up over a percent. Bulls fighting back and making a stand. I still believe the market is in a topping process ahead of the summer months, but we will see.
Sell in May doesn't work every year.
Most years? Yes.
All years? No.
Likely in years where the market is near bull market highs in April? Probably.
I haven't checked the reason du jour, yet. My guess is that the news flow is exactly the opposite of the news flow of previous days, the Fed is talking QE3, US jobs data is strong, and that all is well in Spain, Italy and China. Lol. I will check later! But be careful, the news could be exactly the opposite again tomorrow...