TAX LOSS SELLING

Over the last two months the Province Resources (ASX:PRL) share price has drifted while the company has been quietly executing on its next batch of newsflow after raising $18M at 15c.

Another week of June tax loss selling behind us and only a couple more days to go… it wasn’t as bad as we expected. Visible strength in small cap share prices last week tells us that money on the sidelines may have jumped out of the gate early and is flowing back into the small end, perhaps to pick up some tax loss battered bargains before a bounce.