Are new highs still to "out there"?
New Highs This Month?
Started by
IYB
, Nov 12 2003 05:10 PM
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5 replies to this topic
#1
IYB
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Posted 12 November 2003 - 05:10 PM
“Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, one by one.” ― Charles Mackay, Extraordinary Popular Delusions and the Madness of Crowds
#2
TechSkeptic
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Posted 12 November 2003 - 06:07 PM
IYB: Do you mean a monthly close above 1062.39? Or a daily close above that number sometime this month? I think you meant the latter, so I voted yes. We're so close, I can't imagine it not happening. (The former I'm not so sure about.)Will SPX close above 1062.39 this month (Nov, '03)
#3
Cube
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Posted 12 November 2003 - 06:37 PM
The probability favors it. It is within one random step of the drunken man, and we still have more than ten steps to go in this month. If you throw a coin ten times, what is the probability that at some point (not necessarily at the end of the ten throws) the number of heads is more than the number of tails.
In addition, with today's upswing, the drunken man appears to be leaning toward the positive direction.
#4
IYB
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Posted 12 November 2003 - 07:26 PM
I meant a daily close during Novenber, just as you had thought. I know we're close, but some had seemed to indicate that the highs had been seen... so I wanted to test how strong that convinction is/was. But with futures up even more after the close, the question almost becomes mute.....IYB: Do you mean a monthly close above 1062.39? Or a daily close above that number sometime this month? I think you meant the latter, so I voted yes. We're so close, I can't imagine it not happening. (The former I'm not so sure about.)Will SPX close above 1062.39 this month (Nov, '03)
“Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, one by one.” ― Charles Mackay, Extraordinary Popular Delusions and the Madness of Crowds
#5
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Posted 12 November 2003 - 09:26 PM
It is very possible that we go into the 1070's or crap out on some key reversal type day.
I think you ment moot not mute. 
#6
IYB
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Posted 12 November 2003 - 09:45 PM
You are right, The End. Moot. But I think you meant meant, not ment.It is very possible that we go into the 1070's or crap out on some key reversal type day.
I think you ment moot not mute.
Just kiddin' Pal. Any friend of Jim is a friend of mine. 
And after 1070? Perhaps:
"This is the end
My only friend, the end
Of our elaborate plans, the end
Of everything that stands, the end
No safety or surprise, the end"??
Good Tradin'
“Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, one by one.” ― Charles Mackay, Extraordinary Popular Delusions and the Madness of Crowds
