Sell in May and Go Away? The Numbers Don't Liehttp://www.fool.com/investing/general/2013/05/01/sell-in-may-and-go-away-the-numbers-dont-lie.aspx Alex Dumortier, CFA
May 1, 2013
The old market adage exhorting investors to "sell in May and go away; come back on St. Leger's day" appeared to find favor today, as U.S. stocks lost ground on this first day of the month. The S&P 500 (INDEX: ^GSPC) and the narrower, price-weighted Dow Jones Industrial Average (INDEX: ^DJI) both fell 0.9%.
Consistent with those losses, the VIX Index (INDEX: ^VIX), Wall Street's fear gauge, rose 7% to close at 14.49. (The VIX is calculated from S&P 500 option prices and reflects investor expectations for stock market volatility over the coming 30 days.)
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