Posted April 1, 2012 10:51

As the first quarter wraps up, the market put in a stellar performance. The Dow Jones Industrial Average was able to gain over 8%, while the NASDAQ and S&P 500 gained above double digits. The biggest stories of the first quarter were:

1. Apple reaching $600 a share and
2. the Facebook IPO filing.

As the second quarter begins, the biggest worry is how companies will do during earnings season. If earnings disappoint, it can entail an abysmal second quarter. It is very important that at least 75% of the reporting companies will beat expectations. Another highlight of the second quarter will be the start of trading for Facebook.

Many traders are hoping that the concept of sell in May and go away will not apply.