Sell in May & go away... | China's Stock Market "Bubble" Bursts... | US GDP In Focus - Tonight |

Good morning, Boy, aren’t we glad this month is over… Yes, the old saying of “Sell in May and go away” did surface in April, however, with interest rates at record lows and consumer confidence having its biggest MoM growth for over 7 years, we really thought that May would have been a lot better… But we were wrong….. The XJO fell ~ 350-400 points in May, ouch… ouch… ouch… and as we lead into June, we certainly hope that things are on the mend.. I have been talking about the Chinese stock market “bubble” and yesterday, the “bubble” burst….. Chinese stock market fell 6.7%, ouch.. as broking firms tightened regulations on margin lending… At 44x forward earnings, as I noted earlier in the week, China is running out of puff and it is Japan that we want to be positioned in… Last night, US stocks slipped before data Friday that may show the economy contracted in the first quarter while investors watch for progress on Greek debt talks. Let’s recharge our batteries and bring on June… SPI up 2