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To: Tommy Dorsey who wrote (64629)1/26/2000 8:36:00 PM
From: RocketMan  Read Replies (1) | Respond to of 152472
 
I know it is not a pure random walk, I should have said a random walk with a trend. If you remove the trend you wind up with a first order autoregressive process, a random walk. At least this is what I remember from my old time series courses. However, I have always suspected this is only true for indices that conform to the law of large numbers, and only partially true for individual stocks. I do follow a little bit of TA and find it useful. Point me to the P%F thread, I'm always willing to learn.



To: Tommy Dorsey who wrote (64629)1/26/2000 10:53:00 PM
From: Ibexx  Read Replies (1) | Respond to of 152472
 
Re. Random walk

A blind man walks his dog. The dog runs all over the place - forward, backward, leftward etc - a perfect "random walk" to the shallow eye. In the end, both man and dog reach their destination as planned.

To the long term investors, rigorous control of stock's micro movement matters very little compared with knowledge of of its direction.

Ibexx


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