Cam at the Close 3.20.12

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Tomorrow bring us more housing data with Existing Home Sales at 9:00 AM CST and an important Oil Inventory Number at 9:30 AM CST. The important levels in the S & P 500 Futures for tomorrow will be 1391.75 and 1393 to the downside and 1408.25 and 1411 to the upside. I am bullish and always look to get LONG on dips. Have a great night guys.

Halftime Report for 3.20.2012

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ES is currently trading in a tight 14 point range. Crude Oil is down $1.76 or 1.7% at 106.25. Perhaps the “SPR (strategic Petroleum Reserve)” is priced in WTI. Also, Saudi Arabia will help with any shortages of Crude/Brent Oil. Also, Saudi Arabia reported that the ideal price for a barrel of oil should be around $100. BHP Billiton, the world’s largest miner, expressed concerns regarding the possibility of a slowdown in the demand of metals in China.

Todays Economic Events:
Bernanke speaks at 11:45CST

Wednesday’s Economic Events:
UK Bank Of England Minutes and 2012 Budget.