Good morning America! Right now it’s 2:30pm in Italy and you have an hour before the market opens. It’s a little difficult for me do do much at the open because it’s 3:30pm here. This is the time for my first glass of wine along with my ball of flora di latte mozzarella. Today Irene and I will be eating this before trying the best pizza in Rome across from the Coliseum.
When it comes to the market there’s one thing you must remember, we are in June. We got thru May but traditional June is the worst month of the year. The analysts have given many warnings.
“Eight of the last ten Junes has been down,” Michael Browne, fund manager at Martin Currie told CNBC.
“It is the worst month of the year in the last decade, not by a little bit but by an absolute street. If you were just going to use that as a way of looking forward and that’s what you should do, just bet on a negative June, sell on the last day of May. It has worked at least eight out of the last ten times.”
I’m glad I’m on vacation and not doing much: so far doing nothing! Be very careful! It might be a good time to enjoy the summer and do some reading.
Let me get back out there, my wine is waiting!
Steve
The Options Coach