Which statement is true about contrarianism and herd behavior?

I. The herd or uninformed are usually responsible for driving a trend up or down.

II. Being contrarian means to buy when the under-informed public is selling and to sell when the under-informed public is buying.

III. The well-informed or smart participants are usually contrarian at tops and bottoms.

IV. Many contrarians are also trend followers during the trend phase.

Select one:

A. All are correct.

B. Only III and IV are correct.

C. Only II is correct.

D. Only I, II, and III are correct.