It has been a volatile month of May so far which is rather unsurprising given the 'sell in May' syndrome as well as the SG Markets has been 1 of the better performer this year. With the heightened Phrase 2 announcement at about 1pm on 14 May 2021, the STI responded by tanking around 2+ % from 3114 to 3032. However, in the following week it has recovered to 3114. Seemingly the impact of the heightened Phrase 2 seems to have negligent impact on the STI. How should we position the portfolio moving forward? Sectors to avoid (Ranked according to my own thoughts) 1) Aviation 2) Hotels 3) F&B Services 4) Banks Aviation - With the mutation in Covid 19 Variants and the travel bubble being postponed yet again, its rather safe to say 'uncertainty' is a word that the aviation industry will have to deal with and as such i am not very keen as an investor to deal with uncertainty....