Gallery by Rich Smith, The Motley Fool
Right now, it looks like "sell in May" was pretty sound advice. But in fact, stock markets experienced an even sharper, faster, deeper dive in early April than they did in early May. The difference was that in April, prices rebounded by month's end, and then fell off the cliff a second time in May. But really, 99% of the market's gains were already "in the bank" by mid-March. There was nothing black-magical about May at all.