Market On Open, Monday 29 December

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“Is It Important? Like, Really Important?"

by Alex King, CEO, Cestrian Capital Research, Inc

Let’s say you’ve spent some decades in public securities. Risen to the top of your chosen tree. Have enough money by normal standards. Obviously not enough-enough money because Jeff two doors down the street just ordered a new McLaren like it was Uber Eats, and you at least have to think about whether it’s a good idea to add to your fleet storage costs or not. But life is alright.

What are.you doing right now if this is you? Are you fretting about the psychodrama in silver? Are you carefully sketching out your scenario analysis for the S&P500 in 2026? Adjusting your firm’s hedging strategy to take account of likely looser monetary policy coming down the pike?

No. You are asleep. It’s 5.25 Eastern at the time of writing. And when you wake up you’ll maybe go for a walk. Eat some breakfast. Get a coffee. And if the office calls then (1) you know it’s just fricking Bob who never leaves the office and he will be sweating about something or other and (2) you know you have to answer it because on three occasions now Bob has saved your sorry behind and kept that fleet of classic sportscars from being repo’d and not in the good way the Fed means. So if your phone rings … that’s your first question. Is it, like, really important? If it’s not, then Bob and his agentic buddies can just keep the lights on themselves. Just a few more days peace.

Or in other words: absent a crisis, nobody with any real weight is at work right now. It’s worth reading the market in that light.

January 2? Everything changes. Then it’s full-on firehose, pass the Adderall please Marjorie. But until then, we can just level-set how things look into year end.,

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