Will We See `Sell in May and Go Away?’

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April 24 (Bloomberg) –- Philadelphia Trust Co. CEO Mike Crofton discusses earnings and the economic recovery with Julie Hyman on Bloomberg Television's "Street Smart." (Source: Bloomberg)

Philadelphia trust company.

It's been an interesting week.

People day by day paying the most attention to the highest profile companies.

What do you make of what we have seen in the reaction to where we will go from here?

One inflection point is because the market will be less dependent on the fed and more on the economy.

The economy is chugging along but it's really not a smooth move in the economy.

Some will do well and others will do poorly.

That is indicative of the early stages of any recovery.

The recovery is in place and will continue to gain momentum.

We will not see that momentum manifests itself until the third or fourth quarter.

There will be an economy growing at 3% gdp taking it to new levels.

Do you get into cyclical?

You will have to use the next couple weeks.

We will have a very choppy market.

Earnings are not consistent.

Two, problems in russia and the ukraine which will occupy the market.

The 10 year bond is something people are watching.

All of these things will be in front of sell in may and go away.

We may start to see that a little bit today and next week is may.

We will watch the market.

If it sells off, pick your spot and get your spot.

You can buy cyclicals, old tag, momentum.

There are certain stocks that sold off as if they were momentum but they seek -- ceased to be so.

You bring up jilly add -- they have blockbuster results for the hepatitis b drugs.

We saw some amazing results with gilead.

How concerned are you?

It is very rare.

It is a cure for hepatitis c. they will come to terms with the pharmaceutical benefit companies on a price matrix.

They have other keyers in the pipeline based on the same science.

I think they are posised to do very well and the growth rate is in the mid teens and 20's. we will get a growth start and you don't see that very often.

Qualcomm, those earnings actually disappointed talking about china as a weak spot.

That's another.

Qualcomm is on the front of all next-generation chip technology.

I'm not worried about qualcomm at all.

Your leverage to the economy and the emerging markets.

Emerging market and attrition of wireless devices is just starting.

We have to leave it there.

Appreciate it.

Have a great weekend.

For on the markets," i'm julie

This text has been automatically generated. It may not be 100% accurate.


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