Tax selling is a plausible theory. The pattern of large selling driving the price down whenever there is an uptrend doesn't really conform to that theory. The selling pattern is certainly not what I would be doing is I was trying to get maximum profit for my shares.
I have no doubt that there is some year end profit taking going on. I am seeing mostly red today on the stocks that I follow.
Tax selling? Anavex is up about 100% since January so I dont think, not even a litte bit, that tax loss selling is contributing to this short-term slide. This is just traders exiting positions because of a short holiday week.
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