re: man all the reits I own are all at 52 week highs...

It definitely has credence, and there is a good amount of investors that believe it so it always happens somewhat. Even news seems to hit at weird times in May: Spain in 2012, Greece in 2011, BP in 2010.

Also the way seasonal adjustments work with BLS statistics kind of pushes this. For example, last year we had a warmer winter and construction jobs were hired early. Seasonal adjustments made these numbers look even better as most construction jobs aren't hired until spring. Then when the time came where construction was supposed to hire, they already had and the downward seasonal adjustment was in full force in May, making figures look really bad.

All that being said, I wouldn't ever invest based on this. Trading is a different story, you have to play on the behavioral finance and irrational actions of others, that's just how it goes. If you're a trader then I would definitely buy into it. If you're just investing then I wouldn't buy into it at all.