Novice Trade: SPY

The move in bonds today has been shocking. I cannot believe how strong iShares 20+ Year Treasury Bond (TLT) rallied today into the Fed announcement. It has since backed off.

As I look at what the Fed had to say, I think we are going to see the down move today in the S&P 500 rejected (again) and the index likely to make another run at 2450 this week, next week at the latest. While today could be soft, I believe that if I can buy the SPDR S&P 500 ETF (SPY) July 246 calls for about $1.00 that is probably a good deal....31 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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