ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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TDAYBOYZ4DAWIN
I think they will drop it over night when most are out. I was able to buy a put.
A common theme that appears throughout Outliers is the "10,000-Hour Rule", based on a study by Anders Ericsson. Gladwell claims that greatness requires enormous time, using the source of The Beatles' musical talents and Gates' computer savvy as examples.[3] The Beatles performed live in Hamburg, Germany over 1,200 times from 1960 to 1964, amassing more than 10,000 hours of playing time, therefore meeting the 10,000-Hour Rule. Gladwell asserts that all of the time The Beatles spent performing shaped their talent, "so by the time they returned to England from Hamburg, Germany, 'they sounded like no one else. It was the making of them.'"[3] Gates met the 10,000-Hour Rule when he gained access to a high school computer in 1968 at the age of 13, and spent 10,000 hours programming on it. In Outliers, Gladwell interviews Gates, who says that unique access to a computer at a time when they were not commonplace helped him succeed. Without that access, Gladwell states that Gates would still be "a highly intelligent, driven, charming person and a successful professional", but that he might not be worth US$50 billion.[3] Gladwell explains that reaching the 10,000-Hour Rule, which he considers the key to success in any field, is simply a matter of practicing a specific task that can be accomplished with 20 hours of work a week for 10 years. He also notes that he himself took exactly 10 years to meet the 10,000-Hour Rule, during his brief tenure at The American Spectator and his more recent job at The Washington Post.
http://en.wikipedia.org/wiki/Outliers_(book)
http://en.wikipedia.org/wiki/Outliers_(book)
They were not able to bring it back to 1025 so only able to get up to previous day high at close. So while we are in around a 10 point range, we are closer to the top of the range, which to me excepting some bullish reports means the market may be running out of steam right here.
I was thinking exactly the same today. This is dead, it is only bots against bots; IMHO it is the US government (via banks) who does not want this market to fall, so it becomes "faked", and people sense it and don't want to participate. I am out since last Thursday which I think was shockingly manipulated to the upside (I have no proof here, just my opinion).
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