I expected that the oil spill in Gulf would have increased prices of crude oil but it did not over the last month. The crude is trading in the lower range of my target for this year. I still believe that oil will probably go up because of the long term supply concern.
The market is up today but I still expects a trading range between 1030-1130 for S&P 500 and 10800-11800 for TSX. The European debt crisis, BP oil spill and exhausted stimulus spending have made the current situation much worse that 2 months ago.
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