Punter, thanks for taking time to stop by. Take a look at my post #19226, which I really do believe relates. I've been working on a similar paper (not a thesis) about the average returns in the penny stock market based on popularity and time frame. Being unbiased, as so many professors have reminded me, is the key to research. Try not to presuppose any outcomes and always be open to alternative explanations, even if it goes against the norm. Again, thanks for stopping by.