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1.Market Observations, 7.GEMs, 8.Was Sticky

1 June 2017 (TheAge) – ASX down more than 3 per cent in May and history suggests June recovery unlikely

(1 June 2017, The Age, BusinessDay, p23, Myriam Robin)

‘Investors hoping for a quick rebound in June after May’s ASX declines may be disappointed, with history suggesting they shouldn’t count on a June recovery. The old adage to “sell in May and go away” proved prescient in 2017, with the S&P/ASX200 down 3.4 per cent as concern over Australia’s housing boom and weak retail spending combined with falling commodity prices to lead to a nasty coordinated sell-off in the big banks, miners and big-name retailers. And for now, perhaps investors looking for quick gains would do well to heed the last part of the saying. In the nine times the ASX has fallen in May since 2000 it has gone even further into the red in June for five of those years, and recovered some ground in only four years.’

Read more at TheAge.com.au

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