FT. LAUDERDALE, Fla.--(BUSINESS WIRE)--Conventional financial wisdom has long held that most investors sell their equities in May and then sit out the slow summer trading months. But according to the latest survey by TradeKing Group, the majority of independent investors believe the old adage of “Sell in May and Go Away” no longer applies, given the always-on nature of today’s digitally connected world. Fifty-five percent of investors reject the notion, while only 14% believe it still applies with 31% saying they’re unsure.
The in-house survey of 300+ independent investors was conducted April 16 – April 22, 2015 by TradeKing Group, Inc.
Bulls Continue to Outnumber Bears in First Half of 2015
Not only do investors seem disinclined to “go away” after May, the vast majority of investors take a neutral-to-bullish view for the coming three months. Forty-four percent of respondents describe themselves as bullish, up nine points since October 2014 and up 14 points since May 2014. Bearishness fell two points from last October and 6 points from last May to 12%.
Confidence in the S&P 500 performance persists for 2015 with 65% of investors surveyed saying it will finish the year up by 5% or more, on par with sentiment from the October 2014 survey. The S&P is currently up 2.6% YTD.
Tax Refunds Earmarked for Equities Market
Of those investors eligible for a tax refund this year (70%), most (31%) said they will be investing their refund in the stock market, up from 23% last May. The next most popular responses include saving the refund in a savings account (19%) and using it to pay down personal debt (16%).
Oil Prices Surge Among Top Trade Triggers
While only 38% of investors last October were watching oil prices as a top trade trigger, a full 50% selected it in this latest survey, second only to quarterly earnings. When asked which sectors offered the most potential in the market over the coming three months, the majority of investors selected technology (55%), energy (51%) and healthcare (48%).
About TradeKing Group
TradeKing Group, Inc. consists of companies with a singular focus on helping the independent investor succeed. TradeKing Securities, LLC, is TradeKing's flagship online broker/dealer for self-directed investors looking for a powerful, modern trading platform at a simple, low price1. TradeKing Advisors, Inc. offers investors a range of affordable, professionally-managed portfolios through an automated and fully-transparent online process. The company's newest subsidiary TradeKing Media provides an extensive set of educational, informative and entertaining content and social collaboration channels.
TradeKing Securities, LLC is a member FINRA and SIPC. Assets are custodied and clearing services are provided by Apex Clearing Corporation. TradeKing Group, Inc. is not a broker-dealer.
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