From what I've seen, the "Sell in May" strategy is most applicable to the TSXV. Have a look at a chart of this index going back as far as you can in time. Look at its position in May and how it behaves up to about July or so. Sorry, I don't have a pasteable link showing a chart that goes back far enough (say 10yrs) to show this. It doesn't happen every year but a down trend begining in May is more likely to happen than not happen.

This only generally applies to the TSXV and there are definitely exceptions. But generally, by May the last year's drill results and RE and deals are made and each company is getting ready for a new drilling season: raising money (dilution) and spending it on drilling. Then there is the wait until the first assays are out - July +/-. July is followed by more assays and more tradign activity. There is also the general understanding that a lot of traders take a big part of the summer off.

From July to about late December there is a general rise in the TSXV then it gets hit by tax loss selling in late Dec. Then re-purchasing in January, and the cycle begins anew - each year a bit different.

I think CUU is an exception since we are waiting for the ultimate catalysts (RE3, BFS and back-in/buyout decisions).

jmho