Today's a light macro-economic day and the overnight futures are maybe 2 points or so from the 4 pm close, the only thing that caught my attention this morning were the Treasury futures. I talked about them this weekend and last week a coming down and that being a gift because I like them long for a core position, at the same time long treasuries is a flight to safety out of stocks. The thing is, there's a lot more accumulation in treasuries than people act, people think they are an underperforming asset, but someone has been scooping them up.
As I said this weekend, to get all your ducks in a row, the last thing your going to do (
as smart money) is rotate what you have in equities to treasuries, this morning that accumulation in treasuries, the same one I was hoping to see to know when to start looking at buying more, has begun, I don't think that will be good for stocks.
30 year (5 min) Treasury futures, they came down as expected late last week and this weekend, now they are going positive.
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