By Michael Mackenzie in New York 2 hours, 36 minutes ago One of Wall Street's tenuous beliefs is to sell stocks in May and not to return to the market until late October.This week, as the major US indices returned to official bear territory, defined as a fall of more than 20 per cent from their peaks, cashing out in May when stocks had bounced from their lows in March looks to have been prescient.
What has confounded many of the equity optimists in the last few days has been the failure of a long-desired catalyst.
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