,Behavioural Finance - What are the most profitable quarter of the year..

• Comparing the returns from entry at the worst point and the highest point in the year
• Rebalancing a portfolio on a regular basis to drop losers and pick winners.

Dollar cost averaging is critically dependent upon the time you start the process. DJIA is sensitive to the time you enter the market on a regular basis. The results can be substantially different, particularly over the 10- and 20-year longer time frames typically advocated by DCA investors. Several key claims are made, among which are that DCA is independent of market timing so results are much the same no matter what time the market is entered, and that it delivers at least market performance.

==> this means...not sell in May then go away (search my post!!!), but

enter in January then sell in May (and stay short in the rest of the year)

http://www.traders.com/index.php/sac-magazine/current-contents/feature-articles/50-money-management/1659-testing-dollar-cost-averaging

Any source