Narasimhan Jegadeesh and Sheridan Titman published their paper "Returns to buying winners and selling losers: Implications for stock market efficiency at the Journal of Finance in 1993. They find that significant positive alphas can be obtained from strategies which buy past winning stocks - stocks that have performed well in the past- and sell past losing stocks - stocks that have performed poorly in the past. Such trading strategy is typically referred as momentum strategy and has been widely adopted by many money managers. If momentum strategies are indeed able to generate positive alphas after adjusting for risks, which form of EMH is violated? Select one: O A. All of weak form, semi-strong form and strong form EMH OB. Weak form EMH only OC. Semi-strong form EMH only OD. Strong-form EMH only O E. None of weak form, semi-strong form and strong form EMH