Purpose: The purpose of this paper is to examine three different forms of returns based on the price difference, percentage change, and difference in logarithm price from moving average buy-sell trading rule. Statistical linear correlation, the means of returns from buy/sell days, and the...

Purpose: The purpose of this paper is to examine the profitability from various simple trading range break-out rules on the NASDAQ index. Design/methodology/approach: Runs test is used to test whether the returns from every other days on buy and sell days are random. If they are not random,...