Ulku, Numan - In: Istanbul Stock Exchange Review 11 (2011) 41, pp. 25-44
The intriguing findings by Brock, Lakonishok, and LeBaron (1992, BLL hereafter), that some simple technical trading rules were profitable on Dow Jones Industrial Average (DJIA), have been replicated in many other markets with similar results, and triggered debate on market efficiency. In this...