  A theory which describes the share price evolution at financial markets as a
continuous-time random walk has been generalized in order to take into account
the dependence of waiting times t on price returns x. A joint probability
density function (pdf) which uses the concept of a L\'{e}vy stable distribution
is worked out. The theory is fitted to high-frequency US$/Japanese Yen exchange
rate and low-frequency 19th century Irish stock data. The theory has been
fitted both to price return and to waiting time data and the adherence to data,
in terms of the chi-squared test statistic, has been improved when compared to
the old theory.
