Novice Trade: iShares MSCI United Kingdom

Well, that was a nice one day breather. The move in the British pound is completely overblown, by a long shot. The weakness in the pound and the strength in the dollar is not one that is going to last. With that, I think we see a rally in the FTSE 100 from here (after a couple of days of softness).

I believe the iShares MSCI United Kingdom (EWU), which is the FTSE 100 ETF in the U.S., will get back above $15.00 in the next few days. I can buy the July 15 calls for about $0.15. They have seven trading days to get back to where this index was on Friday. That can be done....42 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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