The Halloween strategy, sometimes referred to  as the Halloween effect or Halloween indicator,  

萬聖節策略，有時稱為萬聖節效應或萬聖節指標，

is a market timing approach. Here's the gist:

是一種市場擇時方法。重點如下：

Stocks tend to perform better  from October 31 (Halloween)  

從 10 月 31 日（萬聖節） 到 5 月 1 日，

to May 1 than from May through October's end.

股票的表現往往比 5 月到 10 月底的表現更好

Advocates of this strategy propose  buying stocks in November, holding  

。 這項策略的倡導者建議在 11 月購買股票，持有

them over the winter, and then selling in  April. They often advise reducing stock  

它們過冬，然後在 4 月出售。他們經常建議

investments during the summer months  or even avoiding them altogether.

在夏季減少股票投資，甚至完全避免投資。

This approach starkly contrasts the  classic 'buy-and-hold' strategy,  

這種方法與經典的「買入並持有」策略形成鮮明對比，

where investors maintain their positions for the  long term, irrespective of market fluctuations.

在這種策略中，投資者無論市場波動如何，都長期維持其頭寸。