SNSN schreef op 25 juni 2013 12:42:
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That's why it is important to understand that standard TA does NOT work for kpn after rights issue.....
The reason is that underlying processes were changed – from pure "technical" this means that standard diffusion processes were affected by extra “jump” process adding also non-stationarity (time dependence of distributions) - to work it out, certain re-normalisation is needed, as well accounting for non-stationarity... So, any attempts to use so-called “former trends” are simply meaningless..., and any “info” based on such “TA” is actually irrelevant.
The fundamentals of one of those changes in underlying processes and their structures I described last Monday (without any stochastics)…