<?xml version="1.0" encoding="UTF-8"?><xml><records><record><source-app name="Biblio" version="7.x">Drupal-Biblio</source-app><ref-type>5</ref-type><contributors><authors><author><style face="normal" font="default" size="100%">Dimitris Kenourgios</style></author><author><style face="normal" font="default" size="100%">Spyros Papathanasiou</style></author></authors></contributors><titles><title><style face="normal" font="default" size="100%">Profitability of Technical Trading Rules in an Emerging Market</style></title><secondary-title><style face="normal" font="default" size="100%">The Handbook of Trading: Strategies for Navigating and Profiting from Currency, Bond, and Stock Markets </style></secondary-title></titles><dates><year><style  face="normal" font="default" size="100%">2010</style></year></dates><edition><style face="normal" font="default" size="100%">edited by Greg N. Gregoriou</style></edition><publisher><style face="normal" font="default" size="100%">McGraw-Hill, NYC</style></publisher><pub-location><style face="normal" font="default" size="100%">New York</style></pub-location><pages><style face="normal" font="default" size="100%">97-11</style></pages><language><style face="normal" font="default" size="100%">eng</style></language><abstract><style face="normal" font="default" size="100%">&lt;p&gt;This chapter investigates the profitability of technical trading rules in the&amp;nbsp;Athens Stock Exchange (ASE), utilizing the FTSE/ASE 20 index during&amp;nbsp;the period 1995 to 2008. We focus on a less developed and efficient stock&amp;nbsp;market, given the existing scarcity of research in such markets. The technical&amp;nbsp;rules that will be explored are simple moving averages. We compare&amp;nbsp;technical trading strategies in the spirit of Brock, Lakonishok, and LeBaron&amp;nbsp;(1992), employing traditional t test and bootstrap methodology under the&amp;nbsp;generalized autoregressive conditional heteroscedasticity model. The&amp;nbsp;results provide strong evidence on the profitability of the technical trading&amp;nbsp;rules against the “buy and hold” strategy and contradict the efficient market&amp;nbsp;hypothesis.&lt;/p&gt;</style></abstract></record></records></xml>