The weak form of the efficient-market hypothesis asserts that

A. stock prices do not rapidly adjust to new information contained in past prices or past data. B. future changes in stock prices cannot be predicted from past prices. C. technicians cannot expect to outperform the market. D. stock prices do not rapidly adjust to new information contained in past prices or past data, and future changes in stock prices cannot be predicted from past prices. E. future changes in stock prices cannot be predicted from past prices, and technicians cannot expect to outperform the market.

Select the correct option and explain.

In an efficient market, A. security prices react quickly to new information. B. security prices are seldom far above or below their justified levels. C. security analysis will not enable investors to realize superior returns consistently. D. one cannot make money. E. security prices react quickly to new information, security prices are seldom far above or below their justified levels, and security analysis will not enable investors to realize superior returns consistently.

Select the correct option and explain.