Trader Note

2-way will pay for everything else.

(Trading secondary market) If primary market failure, reversal is denoted by second level retrace on primary market (secondary reversal after move to that level).

(Trading secondary market) Primary market failure will not hold thorough close into secondary where recovery has occurred in late day trade (short reversion before continuation into secondary market).

Asian markets do NOT trade in lock step.

If S&P pushing new highs, trade short side of Bonds ONLY.

On a volume market without direction, bonds to E-mini spread is a chop-chop-chop trade.

Don't drop a spread leg and assume an easy exit on the other.

Don't ever assume that a market will revert because a correlated market is not moving.

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