A lot of old, familiar sayings can be incredibly useful - like "if at first you don't succeed, try, try again" or "many hands make light work."
But there's an old market adage that I hear a lot this time of year that I believe leads a lot of traders to make a huge mistake and cost themselves a bunch of money - and I don't want that for you.
You may have heard the phrase, "sell in May and go away."
It's an over-simplification that might lead you to believe that the market is about to take a serious bearish dive and that you should go all-in on bearish positions in your portfolio.
I'm here to tell you that that is a bad idea, and I'll explain why...
Yes, decades worth of data shows us that the next six months typically underperform when compared to November through April.
But that doesn't mean the market is about to tank. In fact, it has often done just the opposite.
During my appearance on Money Morning Live today, I showed viewers why this old saying doesn't always reflect what happens in the market - especially recently.
As options traders, we are able to be a lot more nimble in our trading and actually play both bullish and bearish trades for big profits.
While you'll see that the price action in the market doesn't always match the "sell in May and go away" sentiment, there is one factor that we do see change very reliably during this half of the year.
And I laid out my top trading strategies for this time of year, along with several of my top stocks that I'm currently targeting right now to take advantage of it.
You can catch it all right here in the replay of this morning's appearance...
And as I mentioned, my team and I are currently putting the finishing touches on my full Sell in May and Go Away 2023 report, in which I'll provide you with even more details on why the old saying is misleading, what really happens during this time of year, and the best trading strategies to capitalize on it and potentially take home some massive gains!
Keep an eye on your inbox, because I'll be alerting you later this week once it's ready for you.
Until next time,
Tom Gentile
America's #1 Pattern Trader
The post I've Got a Better Way for You to Trade in May appeared first on Power Profit Trades.
About the Author
Tom Gentile, options trading specialist for Money Map Press, is widely known as America's No. 1 Pattern Trader thanks to his nearly 30 years of experience spotting lucrative patterns in options trading. Tom has taught over 300,000 traders his option trading secrets in a variety of settings, including seminars and workshops. He's also a bestselling author of eight books and training courses.