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--- In gannsghost@xxxx, topos8@xxxx wrote:
As this is being written the bonds are trading at 99-30, up from the
day's
low at 99-22, and the 10 year notes are trading at 103-26, up from
103-19.
My square of 9 calculations tell me that the first leg of the drop
from the
February 22 highs is now complete. A rally of about 2 points in the
bonds
and a bit more that a point in the notes is now likely to start.
The main thing to keep in mind is that both markets are headed below
their
September lows (96-30 in June bonds and 101-10 in June notes) over
the next
few months. My best estimate now is that the nearby bond contract
will drop
to 95 or so before the bear market is over.
The trend is still upward in the S&P. The first substantial
resistance above
the market stands at 1185. However, I think that 1300 or even higher
will be
reached in the next few months.
Carl
--- End forwarded message ---
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