Egypt expresses 'deep dissatisfaction' to Netherlands over embassy attack    Global pressure mounts as Gaza fighting intensifies and death toll surges    Egypt, India's BDR Group in talks to establish biologics, cancer drug facility    AUC graduates first cohort of film industry business certificate    At TICAD, Egypt's education minister signs pacts with Casio, SAPIX    Egypt holds special importance for our investments across diverse sectors: Japanese minister    Cairo, Tokyo sign LOI to expand educational cooperation, support for persons with disabilities    Madbouly invites Japanese firms to establish industrial zone in SCZONE    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Al-Sisi meets Qatar PM, Bahrain security adviser to discuss Gaza crisis, regional stability    Indian tourist arrivals to Egypt jump 18.8% in H1-2025: ministry data    Egyptian pound down vs. US dollar at Monday's close – CBE    Egypt's FM, Palestinian PM visit Rafah crossing to review Gaza aid    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt to inaugurate Grand Egyptian Museum on 1 November    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



QUEST MEANS BUSINESS: Can you afford to go away?
Published in Daily News Egypt on 29 - 05 - 2009

There used to be an old saying, "Sell in May and go away. It was reflective of a much more gentle time in the markets when long lunches were the norm and a man's word was "his bond. You could afford to take the long view.
Today's financial world is a lifetime away from those lazy hazy days of selling stocks for the spring and summer. Then, it was quite acceptable to say you were taking a proper vacation. Now, if you are not immediately contactable via blackberry or mobile phone you are considered deficient - a slacker; lazy; someone suspicious; definitely not a team player.
No matter how much we may fight this, it's easy to understand why we feel the need to be in such constant contact. Markets trade 24 hours, and what happens in Tokyo affects the London open which can set a tone for when New York kicks in.
Why do I write about this now? Because this week is the Memorial Day holiday in the United States, the unofficial start of the summer season. And in Europe too, we are going to move into a different mindset as people prepare for long weekends and glorious weeks away.
Hang on - can you afford to be away ignoring the markets with such abandon? The Dow Jones is still up nearly 30 percent since its March 9th lows, and if recent movements have taught us anything it's that profits can evaporate quickly in exceptionally volatile markets.
So whether the gains we have seen are going to hold in the days of May is anyone's guess. Last week, on Quest Means Business, Robert Parker vice chairman of Credit Suisse Asset Management told me he thought May and June would see profit taking and fallbacks in the major markets and the next run-up wouldn't start until the third quarter.
It is not hard to see why there is pessimism about the immediate future which could suggest, even in these hectic times, there is some sense in the good old fashioned ways. "Sell in May and Go Away might still be the way to go, especially for those of you hoping for a peaceful summer season where you can concentrate more on your tan than your trades.
Remember - nothing in this article is giving advice. Nothing!
Richard Quest is a CNN anchor and correspondent who reports on business travel issues. Tune in to CNN International each weekday at 9 pm to catch Richard's show, "Quest Means Business.


Clic here to read the story from its source.