6/3/2019
By Charles Payne, CEO & Principal Analyst

Investors following the above statement have regretted it every year since 2012, but this year- man, it was spot-on. Of course, I never want anyone to trade or invest based on an old saying, even ones with great track records, like buying small-cap stocks in January.

May 2019 was a different situation than most, considering how much the market was already up for the year, and the unforeseen events on trade and the Federal Reserve policy.

Federal Reserve

The May sell-off began on May 1^st when Jay Powell made excuses for inaction by the Fed, which has yet to achieve its inflation goals. Still, he was reluctant to say they were going to cut rates.

Remember this answer from Jerome Powell during the May 1, 2019, Federal Open Market Committee (FOMC) press conference:

Click here to read the entire report.

Charles Payne
Wall Street Strategies

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