Sell in May? Stay but get defensive, CFRA says

Flags fly at full staff outside the NYSE on April 09, 2020 in New York City.
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(This story is for CNBC Pro subscribers only). 

The calendar will soon turn to what is historically one of the worst periods for stocks, but CFRA said in a note to clients that investors should rotate and not sell.

The old Wall Street saying to "sell in May" has some support in historical data, but there are a few sectors that could be smart buys, CFRA chief investment strategist Sam Stovall said in the note. 

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