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a pattern of price oscillations driven by futures market speculation and economic hype

or by fundamentals (dynamic, not oil fundamentals).

A man of words and not of deeds is like a garden full of weeds; a man of deeds and not of words is like a garden full of turds — Anonymous

by Migeru (migeru at eurotrib dot com) on Thu Jul 9th, 2009 at 02:33:18 AM EST
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Yes.  I was particularly thinking of Luis's "mental model" for price oscillations deriving partly from queing theory, (below.)  I presume that that is the "fundamental" to which you refer.  It certainly would not be "market fundamentals."  Surely MSE has not incorporated anything such as that into their "efficient market hypothesis."  It would, instead, be closer to the realm of behavioral economics.


As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Thu Jul 9th, 2009 at 04:06:31 PM EST
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