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A Calm Rally Is A Better Rally
Everyone loves a good, rollicking crash-up, but lest we should forget in our zeal to witness and, ideally, participate in, a blow-off top for equities, such episodes tend to be unstable.
In the immediate aftermath of Donald Trump's second White House conquest, US stocks exhibited signs of "FOMO," as under-exposed discretionary investors chased a rally turbocharged by the en masse abandonment of downside hedges on the clearing of the election event risk.
That panic grab for upside manifested as
