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Apparently the Wizard still didn't believe in Santa, even after actually running into him, so he had to take a look through his trusty telescope to verify it. Turns out that the Evil Spirit was right, and he should be putting up a stocking. It's a bit confusing, though, that a wizard, who is a magical being, wouldn't believe in a different magical being who happens to give out presents. I guess I figure they all know each other, because they're all in the same business. Is there just some kind of hierarchy, like with actors, where amateur actors all know each other, but it doesn't mean they know Hollywood actors? Or does the wizard just not get out much, and stay in his tower all the time?
Or I guess the wizard could have just forgotten to put up the stocking and was reminded by seeing him. The timeline is still confusing, though. This one was published after the previous one where he ran into Santa. One would assume that would mean he's seeing Santa in the sky after he's already left. So, why would he be putting up a stocking now? To be better prepared for next year, I guess.