speculation and price behavior over time

in an deal competitive market there tends to be a definite pattern of prices over time just as there is over space . but the difficulties of predicting the future on the floor of the Chicago Board of trade ,the important market for grain, some hundred important "pit scalpers,"or dealers,are said to make all their profits on price changes within each day,closing out all their transactions every night and sleeping peacefully until the next day.Specialists on the floor of the stock Exchange are meant to play a similar role.make this pattern a less perfect one:we have an equilibrium that is constantly being disturbed but is always in the process of re-forming itself- rather like the ocean,s surface under the play of the winds.