Acknowledgement
I would like to thank the referees for useful comments and suggestions.
Notes
†An increasing number of papers have discussed the profitability of the use of technical trading rules and price momentum strategies (e.g. Bokhari et al. Citation2005).
†In a survey, the authors find evidence of ‘parking the process’ behaviour by individual investors. Only in 17% of cases was the process of a selling operation reinvested on the same day and only in 22% of cases was it reinvested within the same week.