Forget statistics

Dow Winning Streak Captivates Traders, Tests Statisticians

"The odds are we won't go ten days, but the odds were we wouldn't go nine days," says Hugh Johnson, chairman & CIO at Johnson Advisors, in the attached video. "This is a pretty unusual experience, but markets don't go straight up, and you and I and probably everyone who is watching knows that instinctively."

Forget about odds.  Statistics (odds) are only meaningful when there is something random going on, and when the future is expected to resemble the past.  I'm unaware of any time in history when the Fed has taken on this kind of asset purchasing, and consequently, don't expect the future of this market to bear any real resemblance to the past.  This market isn't random, it's manipulated.  True, there may be a correction sometime soon, but statistics won't help you determine when that's going to happen, nor will statistics help you determine how big the correction will be.  Suffice it to say that the higher stock prices get, the riskier stocks are.