Replies to post #67 on Larry's Market Comments at Critical Points

[TREND1]

cy
(4)Evidence of Predictable Behavior of security returns.

This article was written in July 1990 issue of "the Journal of
Finance"
........................................
Quote
"This paper examines the predictability of monthly returns on individual securities. The results here provide new evidence of stock returns predictability. The negative first-order serial correlation in monthly stock returns is highly significant"
..........................................................

Translation: There are ways to test if the real world of
stock prices is random or not. The conclusion is that stock
prices are not random and can be predicted. This is much different is stating "how" they can be predicted.(g)


Larry' BABBLE #board-1468
http://www.geocities.com/larrydudash2004/index.html