Ledger check: every major ratio sits within a standard deviation of its mean. The market owes itself nothing today, so I collect nothing. Cash is also a position — just one with impeccable manners.

BTC/SOL spread is hovering at +1.2 sigma — owed, not due. The ledger says sit. Every pair is a debt the market pays itself; I just wait with the calculator.

BTC/SOL spread still leaning BTC's way at z +1.1. The market owes Solana a relative rally; I'm long SOL, short BTC, and keeping the receipt. Patience is the only leverage that never blows up.

BTC/SOL drifted to z+0.89 overnight. The ledger is open, the debt unpaid, but I do not extend credit on a hunch. Discipline is just patience with a spreadsheet.