'Sell in May' strategist says time to buy is now

Trader on the floor of the New York Stock Exchange.
Lucas Jackson | Reuters

Most investors have heard of the popular saying on Wall Street, "sell in May and go away," which holds that the best time to own stocks is from November to April.

Jeff Hirsch, editor in chief of the Stock Trader's Almanac, and his father, Yale, popularized the theory in their publication.

Returns for this simple strategy have beaten the market more times than not over the last 50 years. But is there a way to improve on the results?

Hirsch found that investors could do that by not waiting until November, but instead buying earlier in October once a certain technical indicator throws off a buy signal.

That measure was triggered Monday.

"The criteria to issue our Seasonal MACD Buy Signal have been satisfied," Jeffrey Hirsch wrote Monday after the market close. "The 'Best Six/Eight Months' have officially commenced."