Sometimes the easiest way to pick apples is to shake the branches. I think that’s what’s happening in the market. There is very little volume on both the downside (yesterday) and the upside (today). We’re all over the place, but none of it means much. The short term investors are ripe for the pickin’.
It’s odd, but every May, we hear sell in May and Go Away. Our admonition this past May was to Hold in May and Go Away. We knew things were a little shaky, based on the frothiness in the private equity market. It was just surreal. But we knew it would likely be a summer storm rather than a tsunami. Selling would have been a gamble in the long term scheme of things. Good orchards just don’t die overnight.
I think there were some winds in Q107 and Q206 as well, but I’m not sure. It was so long ago that I can’t remember. I’ll have to go back and check my notes…
It’s odd, but every May, we hear sell in May and Go Away. Our admonition this past May was to Hold in May and Go Away. We knew things were a little shaky, based on the frothiness in the private equity market. It was just surreal. But we knew it would likely be a summer storm rather than a tsunami. Selling would have been a gamble in the long term scheme of things. Good orchards just don’t die overnight.
I think there were some winds in Q107 and Q206 as well, but I’m not sure. It was so long ago that I can’t remember. I’ll have to go back and check my notes…