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Sell In May – Except When This Happens

By Tim KnightMay 18, 2020 02:47PM ET
Sell In May – Except When This Happens
By Tim Knight   |  May 18, 2020 02:47PM ET

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Irvin Mermelstein
Irvin Mermelstein May 18, 2020 8:20PM ET
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I doubt it, Tim. Why pick pr3sidential election years? Pretty random. What you leave out is the market between 1929 and 1932, when the Dow went from 350 to 50. That's this market. There was a mini-crash in March 1929, followed by liquidity support, which sen the market higher fir six months. Until the support for the rising market stopped, bring on the Great Crash of September 1929. Your 50.3 level for the Dow came after almost a 3 year bear market. In July 1932, the Dow finally bottomed 89.6% down from the 9/29 high.Other than that, there is no precedent for this market. The S&P for those years will tell you the same story.Given that Jay Powell is an equity capital guy estimated to be worth $119 million. I can see why he wants to prop up the market. We don't even expect government officials to separate their private interests from their public duties anymore.The market in 1929-1932 did what ours will do: crash under the weight of 24% unemployment.
George Vincent
George Vincent May 18, 2020 8:20PM ET
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When the big dumo need to prep my shorts
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