Sell In May

Sell in May and go away will not work as well as last year. It will take about a week of consolidating in a range without further up moves before the stage will be set for a 60-80 point pullback. That could happen between 1350-1370. So I don't see us dropping right away without exhausting the momentum first. Remember in April 2010, we traded 2 weeks between 1180 and 1215 before the bottom fell out to 1040. In March, we traded between 1295-1325 for about 2 weeks before the bottom fell out to 1242.

Sell in the middle of May and buy back at the end of June sounds like a plan.