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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: advocatedevil who wrote (60978)	2/26/2002 2:20:39 PM
From: Sam Citron	Read Replies (2) \| Respond to of 70976

AD, I have watched you make money day after day in a rising market in spite of your short bias. I have no doubt that you would have been at least as successful during this period had your bias been more in accordance with the longer term trend. By longer-term, I mean longer than your average portfolio turnover rate. So I ask you: (1) Given your ability to capitalize on very short term moves, both up and down, of what importance is your selection of a particular bias? (2) Would you agree more with proposition (a) or (b) below? (a) In the very short term [1/2 hr. or less] stock price movements are a random walk. (b) In the very short term, stock price movements are highly serially correlated. (3) In the very short term, the most important determinant of stock price movements is ___________. [fill in the blank]. Thanks for your patience in considering these questions. Sam