This could Multibag .................., page-111

Exactly... one could argue red because it's shown to come up 10 times in a row and the table is clearly biased to the red. In the same light someone could argue black, because Red came up so many times in a row and it should be statistically 50/50 (excluding green 0 here) so sure it SHOULD come up black right?

Point is, anything can happen. Traders will look at the history and try predict the future, and whichever majority has the biggest hands to play will 'skew' the result somewhat (drive price action one way or the other), HOWEVER when that ball lands (fundamentals/news) it doesn't matter which way players (traders) drove the outcome toward (price action), because ultimately the number (news/event/fundamentals/actions) dictates the outcome.