Tra La It's May...

“…the lusty month of May.

“That lovely month when ev’ryone goes Blissfully astray.”

Apologies to Lerner and Loewe and the gambling public, which includes those who trek to the track known as the stock market.

But Kev insists. Sweatered and blue jeaned this May morning, pondering whether to shave and what the weather will be at 10 o’clock tomorrow when he tees off at the course Babe Ruth used to play, he is remaining buoyant and taking the cue from Camelot’s lovely verse, not the Wall Street chestnut of “Sell in May and go away.”

Not that there’s anything wrong with being a fan of show tunes. I wore out the cast recording on our Silvertone stereo from Sears as a kid.

But let’s not get carried away like Guinevere. Trimmed positions in Ford and PALM this morning to take profits and pay the Little Sisters of the Poor who manage my sporting life, but still holding on. Cringing at my swine flu play, Novavax, which has plummeted since my tout, but still holding on. The faint of heart will be forgiven if they bail. Now they tell me this virus is not that big of a deal! Oink. But a guy who told me to take Dunkirk in the Derby was wrong, too. Whoa, Nellie.

Getting out and getting back in is becoming a problem for the investing (read, gambling) public. Hope you got back into new Yankee Stadium last night when they began the game after nine o’clock, but you should have hung out with the family at the Hard Rock Cafe for a multi-bucks hamburger dinner before heading to the Escalade purchased by selling credit default swaps for AIG.

Into each life a little rain must fall.

Construction spending rose last month. Bernanke is chirping about economic growth later this year, though high unemployment will continue to persist. But it’s clear now to all but the crybabies that the economy will soon start hitting more greens in regulation

Resist at your own peril. Reason and rhyme tell us the corner has been turned. The market for equities will not swoon because the survivalists and conspiracy brothers wish it. Not to be invested is to put down the rifle with all the fish in the barrel.

And, anyway, It’s May, it’s May!

“Those dreary vows that ev'ryone takes, Ev'ryone breaks. Ev'ryone makes divine mistakes. The lusty month of May!”