Mar

20

One notes that a little counting is always good.

Since 1996 

………………….Expectation next

………..Number…1 day…10 days

new lows  249     2.8       9

new highs 538 -1.0        1.3

No need for Mr. Zussman on this. And put Faber in a box with Spencer.

One defined a new high as any 40 day high based on closing prices and a new low based on any 40 day low based on closing prices. One notes that the Faber study quoting some colleague was on pre 2007 data. But one doubts that their results would have been different had they bothered to count rather than talk about the data base back to 1790.


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