Sometimes saying nothing is smart
|S2N spotlight
There’s a line attributed to Marcus Aurelius that has always stayed with me:
“Watch closely. Stand ready to respond, but do not rush to speak.”
It captures perfectly how I’m approaching the markets right now.
Yes, I’ve been vocal for months about the growing fragility beneath this stock market and crypto rally. And yes, the cracks we’re seeing now look a lot like the patterns I’ve been warning about. But this is precisely the moment not to gloat, not to claim victory, and not to pretend we know how the next chapter unfolds.
The Stoics remind us that wisdom isn’t loud—it’s observant. When reality begins to shift, the disciplined response is not celebration or panic, but quiet reflection. The goal is to see clearly, not to be proven right.
This is why I have been taking a step back. Not disappearing—just speaking less, watching more, and letting the noise settle so the real signals can emerge. Whether this proves to be a meaningful turning point or just another tremor is something the market, not our egos, will decide.
Right now, the right move is simple: breathe, observe, and stay humble in front of unfolding reality.
S2N observations
Fascinating how the data centre narrative boosted the markets, and now that the hype has settled, serious questions are being asked about how the economics work.
I have a story about resilience and luck that is close to home. Actually not that close.
Two Aussie brothers with a background in banking left their jobs at Macquarie Bank to become one of the world’s biggest Bitcoin miners. They quickly captured immense wealth during the Bitcoin bull market at a time when mining was all the rage. It soon became apparent that making money as a miner was just too costly, and their business nearly folded. I cannot remember all the gory details, but these guys were on death’s door. I remember them coming up with all the typical investment banking financial engineering, reminding me of myself in a past life. Then I forgot about them.
About a month ago I was in shock to see a $15 billion deal with Microsoft. They had repurposed themselves for the latest data centre boom, as they had all the compute power to do the heavy lifting from their Bitcoin GPUs. Once again they were on a rocket, another one, but this boosted the share price of Iris Energy into the stratosphere. In line with the broader market, their stock price is coming in for a landing. Who knows where this one lands?
Well done fellas.
S2N screener alert
That will be it for today.
S2N performance review
S2N chart gallery
S2N news today
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.