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#20
09-06-2005, 01:01 AM
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Re: Random Walk
It's either you or me... I think it's you.
The point is that if the security price always equals its intrinsic value, the price can't change unless the underlying value changes. That being the case, chart patterns or other technical factors cannot predict future movements of the stock. BTW, I don't believe the premise of this argument, I took it from the OP. 
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