Sit Tight at Staples Table

This column was originally published on RealMoney on Sept. 22 at 8:31 a.m. EDT. It's being republished as a bonus for TheStreet.com readers.

There's a reason why you can't leave the table yet for the General Mills'(GIS Quote) of the world and that reason is one word: Treasuries.

When I see the Treasuries at a 17-month low, that tells me that economic activity is still falling, which means there is still plenty of commodity and industrial money sloshing around that can go to these stocks.

I have been debating all morning whether McCormick(MKC Quote) is a sell. The company reports next week. The stock is extended. The business is just okay. There's nothing special happening here.

Some analysts think it will miss by a penny. Others think that its initiative with Wal-Mart(WMT Quote) could hurt it.

But I know that people will simply buy the stock if it does the number, in part because of the slowdown and what the bonds are saying. It's just too good a risk-reward to sell. That was also the reason for the frenetic buying in General Mills. We had just caught a downgrade recently, lots of people wanted to call the top, as I would like to in McCormick, but it just won't work.

We don't have to leave this group until it is clear the Fed needs to loosen. And other than yours truly, I don't know anyone who thinks they should!