The inverse relationship between XLE and XLF (Oil Sector vs Financial Sector)
I was anticipating bond futures to bounce today with the recent retest of bond yields near June highs.(As bond Yields go down, bond futures go up). Rick Santelli may be giving a news related reason as to why yields dropped today, but I see it as nothing more than a technical setup.
In the simulator account I sold my 1 contract long on ZF (2 year bond future) from a few days ago and 2 cards on ZN that I averaged into over the last week. Bond Futures are probably the easiest product to understand.
I Slept in and missed the morning selloff. I should have gotten up early and went long ZN and short YM. Oh'well.
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