Sell in May and Go Away. Does this apply for the Kuwaiti Market?

Recently i was analyzing the returns generated by KSE Price Index in the month of May, to check if the adage used in the developed markets is applicable here in Kuwait. 

Below are the two table analyzing the returns in the past 10 years. 

Table 1, shows the returns only in the month of May and 

Table 2, shows the returns generated between May and October - which, as per the saying, is the slack period in the developed markets. And from November to April - the good return period as per the research conducted  by Bouman and Jacobsen (2002). (The adage is meant for this period). 

 

Note: The returns for Nov - April starts in the year 1999 and so-forth.

Hope this analysis will help you to form right strategies for the coming slack season, if any. 

Happy Investing!!!