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I've watching the similarity of the 1995 bond chart and the current.
On the first Weds in May 1995, the bonds took off on the treasury
announcement. That date was the 117th trading day from the 11/11/94
low. Today was the 116th trading day from the 5/15/01 low. In 1995,
the April high was the midpoint of the eventual nearterm bond target
of 116, basis the 8% notional. So if 107 is the midpoint of this
move, 97 - 107 - 117. Furthermore, just taking straight fibo
extensioin targets, from the Jan 00 low of 8900, first move up was
approx 11 pts to 110 in 4/00, next level 18 pts (11x1.618) to approx
107 in 1/01 and 3/01. Next target seems pretty clear at (11x1.618^2)
or 29 pts to 118.
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