""sell in May and go away" @AverageJoe
My understanding...from hearing this repeatedly on the Financial Comedy Channel CNBC over decades is that this adage is typically (if not exclusively) used for common stocks, since that's the only market with which most people (viewers) are familiar. There are plenty of other markets. Such as commodities (ours), Fixed Income, Forex etc...And even if there is seasonality (which makes sense), it's not always 100%. And even if it's true this May.....and they sell stocks...where are thy going to put (some of) their money? Maybe the best performing Asset Class of 2016? Maybe.
Having said that, while I am exuberant about the price rise (as is obvious from my Postings last night), as all gold longs are, we need to be careful that this is not yet another bull trap, another head fake. We've all seen plenty, only to be let down, to be "trapped".
Need to see continued buying strength Monday for confirmation.
I've tagged AJ, as he is very familiar with the trading world of commodities and currencies....they have a life of their own (and Precious Metals are classed as commodities, tho obviously a bit different from Orange Juice and soy beans)
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