Predicting corrections is silly, and people define it differently, but most people define it, mathemathically, as a 10% minimum downside, before trending upwards and hitting its previous top.
^ I know that most people say 10%, but what is so significant about that magnitude of a drop? And why should it universally constitute a “correction?”
To me, most blowhards who speak this way resemble dancing parrots in miniature suits – and they are just confident enough with their bull$h!t to be dangerous.
^ Exactly. The only reason base 10 seems so sensible to us is the fact that we inherently have evolved our mathematical comprehension based on the original calculators Mother Nature provided us with – the number of fingers on our hands.
Exactly, so 10% is an arbitrary number based on the fact that we tend to think in groups of 10s and 10ths unless there is a specific reason to choose another. No specific reason to choose anything else, so 10% is a correction.
(I actually thought of using the Tom Lehrer reference for octal, but if ran out of fingers.)
I’m only aware of 10 digits, beginning at 0 and ending at 9. Are there more digits out there in the scientific/mathematical world that I’m not aware of?