Saturday, 29 June 2024

By Murray Dawes Editor, Retirement Trader and Fat Tail Microcaps

[3 min read]

Dear Reader,

Rejoice, for tax-loss selling is over and the chance of a bounce back from beaten up stocks is upon us.

In today’s Closing Bell video, I show you two stocks that I think look ripe for some upside if a rally gets going.

One is a $2.6bn gold stock and the other is a $480m tech stock that is a serious punt.

Tax-loss selling season is obviously more pronounced during weak market conditions.

After two years of pain in the mid and small-cap sectors it makes sense that many people would chuck in the towel on their dud positions as tax time approached.

The S&P/ASX Emerging Companies Index is down close to 7% from the high reached last month.

Inflation figures released during the week spooked the market initially and interest rate sensitive sectors copped a shellacking.

But I was surprised by the strength of the rally late in the week which took prices back to where they were before the inflation figures were released.

Is that the start of the bounce back after tax loss selling season?

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