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The averages discount everything. This means that every possible thing that can affect prices is reflected in the market averages. Even acts of God are quickly appraised and their effects accounted for in the price. Of course secret insider information would not be known and thus could not affect the price until it did become known. Information from almost anywhere in world is received in minutes and is immediately reflected in market prices. Note sometime how the release of some important economic data that is different from what the market was expecting will cause market prices to move up or down in a matter of seconds.

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