Anthony Grisanti's Bullish S&P 500 Trade

On CNBC's Futures Now Anthony Grisanti spoke about a decline in the S&P 500. He explained that weak government reports, problems with Greece and a drop in crude oil are the reasons for the weakness in the S&P 500.

Grisanti added that the energy space is 10 percent of the S&P 500 and although it is a significant part of the index, it is not big enough to move it lower on its own. Ultimately, he thinks that low oil prices mean better economy and better stock market and that is why he decided to initiate a long position. He bought the S&P 500 e-mini futures contract at 2,002 and he placed a stop loss at 1,980, while his target price is at 2,040.