Strategist Stovall: If you sold in May, it's time to buy; small caps, cycicals are best

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CFRA's Sam Stovall told investors the and select cyclical sectors will likely outperform during the next six months based on historical patterns. This strategy is the seasonal inverse of the old Wall Street "sell in May" adage.

"Above-average asset class returns are typically seen November thru April," Stovall, chief equity strategist at the firm, wrote in a note to clients Monday.

"So while uneven Q3 EPS reports, vacillating election polls and heated rate-hike rhetoric whipsaw investors' emotions, history reminds us that better equity returns may be just around the corner."