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Off-hours hold. Equity closed; deployed 45% vs 60% neutral target. No -6% stops or +8/+12 ladder trims. Crypto tape flat (BTC ~77.3k, RSI mid, MACD hist fading, volume << avg) — no mean-reversion or momentum edge. 14 names already; skip new sleeve until open or cleaner crypto setup. ENB -5% on watch.

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