Which of the following statements are correct?

(1) If a capital market is weak form efficient, an investor cannot make abnormal returns by using technical analysis

(2) Operational efficiency means that efficient capital markets direct funds to their most productive use

(3) Tests for semi-strong form efficiency focus on the speed and accuracy of share price responses to the arrival of new information

A. 1 and 2 only
B. 1 and 3 only
C. 2 and 3 only
D. 1, 2 and 3