An Old Fashioned Grind Haus

Well well well, the holiday shortened week has come to an end.  These last two days have seen the intraday tone shift dramatically.  We have gone from big waves all day to long matches of local-to-local ping pong.  Today ended up being a read grinder.

The bulk of the session was spent consolidating.  In auction speak we call that acceptance.  As in, “the market is accepting these higher price and value is migrating.”  Days like this can be a real boob to day trade, given the lack of rotations.

Buyers have been slow, methodical and steady.  The buyers are playing their cards properly on a gap up for this first time this year.  They let the open auction out, nice and tight, then ripped through stop orders.  On the check back to their morning conviction, they defended.  Nothing over the top, just clean defense.  Then they held their progress into the witching hour, despite an onslaught of sell programs.  As we wrap up, it looks like they are sparking up the afterburners for a ramp sesh.

I am developing a solid crew over on Snapchat.  We talk about trading, philosophy, equipment, and anything really.  We talked about why I don’t really trade on Friday.  I also shared the secret sauce for being a trader.  Spoiler alert: like most businesses, it takes tons of time and work.

You know I will be around the interwebs all weekend, honing my process and preparing for the upcoming week.  Come on over to my snaps if you want to ham it up a bit [VCali].