A Finding That _________ Would Provide Evidence Against the Semistrong

Multiple Choice

A finding that _________ would provide evidence against the semistrong form of the efficient market theory.

A) low P/E stocks tend to have positive abnormal returns
B) trend analysis is worthless in determining stock prices
C) one can consistently outperform the market by adopting the contrarian approach exemplified by the reversals phenomenon
D) A and B
E) A and C