The Books

Exit the whole Meta position. Q2 revenue grew 28% to 8bn but earnings missed, free cash flow collapsed ~91% to and 2026 capex was guided up to ~$135bn - the market cut the stock 8% on the print and it has not recovered. The shares sit 10% below our stop for a ninth session, 12% under our cost, and below every moving average we track, while the model projects no recovery at any horizon out to 12 weeks. Valuation is only fair, so there is nothing cheap to wait for. | L2 fires both legs (decisive stop break -10.21% + dead 12wk: Est_12W 565.58 < 1.02x close 567.84). 2nd consecutive settled STRONG SELL - REDUCE (BreakdownDown_52W cv85 -> RallySell_BearTrend cv68, Sell_Rank 3). adj 63 sits below the 65 floor after the -5 RallySell_BearTrend|sell haircut, but L2 is an independent exit basis. MoS -0.92 > -3 so no valuation tier bump. 8th re-fire, repriced 539..71. Stop held at the broken 620.00 for monitor continuity until the exit fills. Analyst median PT noted and rejected - trade the signal. · news

decided @ 556.71 · stop 620.00 · t1w 557.12 · t4w 549.03 · t12w 565.58

America's second-largest bank just posted record net interest income and 34% earnings growth, and management guides full-year NII to the upper end of 6-8% - a business that gets BETTER if the Fed holds or hikes, which is exactly the risk the 29 July FOMC carries. The chart has caught up to the story: the pullback that never came has resolved into a fresh momentum-continuation breakout, and we are buying strength on a stop order rather than chasing it. The one caution is price versus book - at 1.5x tangible book the shares screen mildly rich on our residual-income model, so we add a measured tranche, not a full one. OPS: GTC buy-STOP @62.55 (fills only on strength, self-limiting into the FOMC print); = 29.97% ADD tranche x 1.0 size mod =. Entry band 62.27-62.83. Supersedes and WITHDRAWS the unfilled 07-24 PullbackBuy_VWAP limit @60.06 - family flipped PullbackBuy->MomentumContinuation per US-8, so the old order is void and the action price is repriced to the live 07-27 Entry_Price. MomentumContinuation_Up|buy cell is n=1 (report-only, 0-of-1) - no bias applied, but flagged. Quality_Pass False does NOT gate an ADD to a held name. RSI 68.7 with RSI_DIV but <75, so not a chase; EDATR +0.37 = at/below entry. expires_on 07-30. · news

decided @ 62.55 · stop 60.29 · t1w 64.58 · t4w 69.33 · t12w 74.84

Moody's Q2 beat and raised full-year guidance (revenue +15%, adjusted EPS +31% to, adj op-margin +440bp to 55.3%, FY adj-EPS midpoint) — a clean post-earnings PullbackBuy_VWAP we add to on a disciplined pullback rather than chasing the +1.8% post-beat close. Queued GTC limit @480.93 (1.8% below close),, size x0.75 for the -1.33 MoS; extended -0.61 ATR so pullback-only, no gap-chase (L6). Adj clears the 65 floor. 12wk 556.59 exceeds the DCF anchor. expires 07-27. · news

decided @ 480.93 · stop 464.18 · t1w 490.99 · t4w 514.49 · t12w 556.59

TSMC's exit case has half-repaired, so we take profits on the de-risk rather than complete it: after a +5.5% session the shares closed at 424.61, back above the 50-day average and only 0.5% under our stop, which is no longer a decisive break - but the model's 12-week view (407.07) is still 4.1% BELOW the price and the engine still reads the name bearishly (AVOID, conviction 64 and rising) on a position we are underwater on. Q2 was a blowout (EPS +74.5%, FY26 revenue growth guided above 40%) yet the rally is a sector-wide AI bid on Taiwan's +83.6% US export orders, not a TSMC re-rating, and the capex raise to -64B is a real margin overhang. So: halve the position into strength at a price 5.5% better than the level the previous verdict was chasing, and keep the other half working with a raised stop. Operational: L2 re-tested and found half-satisfied (stop-break leg healed, negative-12wk leg survives) -> exit SCALED from a full reduce-to-30-residual down to a 50% trim; L3/UT-11 escalation of a FOURTH consecutive 30-share partial fill (txn ustech-20260722-0001) - act at the right size, do not drip a fifth session; G2 SUPPRESSES the valuation amplify (DCF vs price is ~10x broken) so the MoS<=-3 tier bump is deliberately NOT applied; UT-9 - PROFIT_ARMED prints at T12_Progress 104.31 on a -3.06% underwater position (Gain_ATR -0.74) = arm-on-loss mislabel, inert, this is a loss-trim not a profit-take; L5 f=0.30 (calib -0.299 degenerate); L6 no post-rebound chase. Residual on a raised stop 406.37 (close - 1xATR, ratcheted up from 385.00). Proceeds. · news

decided @ 424.61 · stop 406.37 · t12w 407.07

Chubb printed a fresh STRONG BUY-ADD on the reliable pullback-to-VWAP setup (cv85, Buy_Rank 1) as its Q2 results landed 07-21; we queue a below-close buy-limit that fills only on a pullback so we ride the trend without chasing the earnings pop. Extended -0.84 ATR past the 348.24 entry -> QUEUE not market (no-chase). Model add portion 99.33pct x 8,216 = (, a near-doubling ADD; within 60pct max-position +; scalable at user discretion). Val neutral (OVERVALUED_VS_RI MoS -0.028, val_adj 0, size x1.0). 12wk 386.36 exceeds RI FV anchor 345.17 -> growth-beyond-priced-in. L6-safe pullback-only limit into the Q2 call 07-22 8:30 ET. expires_on 07-24; execute 07-22 open. · news

decided @ 348.24 · stop 332.71 · t1w 353.65 · t4w 366.26 · t12w 386.36

Corning has now printed a bearish signal for six straight sessions and today it escalated to an outright STRONG SELL - REDUCE at the settled close, ranked the single worst name in the book to hold, with conviction rising through the session. The stock is trading below both its short- and medium-term trend lines, is our only large loser at roughly -19%, and rallied noticeably less than the rest of the book on a broadly explosive day - relative weakness that confirms the problem is company-specific rather than market-wide. Valuation offers no cushion either, so we take the full exit into today's bounce rather than hold a broken position for a sixth session. OPERATIONAL: Sell_Rank 1, 88.52 amplified to full by MoS_FV -11.34 (<= -3 tier bump). Stable family across J20C->J21C (cv 52/62/62/69), close 162.41 below EMA10 172.51 and EMA100 169.41. US-18 second-print bar met many times over; G-gates inapplicable (broken downtrend, CLAUDE.md 9 'valid exits still fire'); US-23 - the stale-bullish Est_12W +6.8% must not veto a signal/stop exit, and Est_4W is already negative. Card outstanding since 07-16, repriced +6.1% higher than the 07-21 ref of 153.10. Proceeds realized ~-Cross-book: executes ONCE here (L7).

decided @ 162.41 · t1w 163.98 · t4w 160.33 · t12w 173.41

TSMC's exit case has half-repaired, so we take profits on the de-risk rather than complete it: after a +5.5% session the shares closed at 424.61, back above the 50-day average and only 0.5% under our stop, which is no longer a decisive break - but the model's 12-week view (407.07) is still 4.1% BELOW the price and the engine still reads the name bearishly (AVOID, conviction 64 and rising) on a position we are underwater on. Q2 was a blowout (EPS +74.5%, FY26 revenue growth guided above 40%) yet the rally is a sector-wide AI bid on Taiwan's +83.6% US export orders, not a TSMC re-rating, and the capex raise to -64B is a real margin overhang. So: halve the position into strength at a price 5.5% better than the level the previous verdict was chasing, and keep the other half working with a raised stop. Operational: L2 re-tested and found half-satisfied (stop-break leg healed, negative-12wk leg survives) -> exit SCALED from a full reduce-to-30-residual down to a 50% trim; L3/UT-11 escalation of a FOURTH consecutive 30-share partial fill (txn ustech-20260722-0001) - act at the right size, do not drip a fifth session; G2 SUPPRESSES the valuation amplify (DCF vs price is ~10x broken) so the MoS<=-3 tier bump is deliberately NOT applied; UT-9 - PROFIT_ARMED prints at T12_Progress 104.31 on a -3.06% underwater position (Gain_ATR -0.74) = arm-on-loss mislabel, inert, this is a loss-trim not a profit-take; L5 f=0.30 (calib -0.299 degenerate); L6 no post-rebound chase. Residual on a raised stop 406.37 (close - 1xATR, ratcheted up from 385.00). Proceeds. · news

decided @ 424.61 · stop 406.37 · t12w 407.07

Sandisk has run 16% past its twelve-week target and the model's forward view has now gone negative (-13.7%), while the signal engine has fallen silent for four straight snapshots. That combination is the textbook case for banking half a winner rather than waiting for the reversal to announce itself. The NAND/HBM supercycle looks intact - the stock still sits above its 100- and 200-day trend lines and next week brings SK Hynix, Samsung and Lam Research read-throughs - so we keep the other half running with a raised trail. Operational: ADR-0012 profit_take_2, armed at T12_Progress 115.9% with ticks (c) dead 12wk forward [1200.54 < 1.02x1390.95 = 1418.77] and (d) 4x consecutive NO TRADE. Self-set 1300 trail is INTACT - pure armed + soft-2-tick fire, not a trail break. US-19: same 50% first-fire repriced +2.7% higher from 07-18, re-verified at the settled close, NOT an escalation. Valuation amplify (MoS -4.77 <= -3 would bump is G2-SUPPRESSED (DCF 1005.14 << Target_12Week, Rev_Growth 0.98 hyper-growth). Keep, trail 1300. Est_12W exceeds the DCF anchor 1005.14. Proceeds.

decided @ 1390.95 · stop 1300.00 · t1w 1428.44 · t4w 1385.08 · t12w 1200.54

Cut the loss on TSM: sell 206 of and keep only a 30-share tail. TSMC's Q2 was a genuine blowout - record revenue, profit +77% and full-year growth guidance lifted above 40% with Arizona spending raised to - but the market has spent five sessions selling that news, knocking the shares ~7% from the print on fears that the -64B capex bill compresses margins. Our own forward view has now flipped decisively negative: the 12-week projection has slid ->, i.e. 6% BELOW today's price, while the stock sits 5.7% under its protective stop and 8.2% underwater on cost. Strong fundamentals the tape refuses to pay for are not a reason to keep holding a broken chart, so we step out and leave a small tail in case the AI cycle reasserts. OPERATIONAL: third re-fire of the same armed exit - the 07-17 and 07-18 proposals each executed as only, so the de-risk is still incomplete; UT-11/L3/UT-3 say escalate the residual now, do not re-defer. L2 fully satisfied (decisive break of the 426.80 stop + negative 12wk + bearish/absent signal); row label is NO TRADE (conv 0, consensus conflict) but the label is not required. Residual on stop 385.00 (close - 1xATR); close 402.30 still above EMA200 359.77 so not a full below-EMA200 exit. Valuation val-blind: DCF vs price is broken -> G2 suppress, MoS -16.05 not applied. UT-9: PROFIT_ARMED prints (T12_Progress 106.51) on a -8.15% underwater position (Gain_ATR -2.10) = arm-on-loss mislabel, inert - this is a loss-cut, not a profit-take. Estimates: 1wk/4wk n/a (no Target_Price on a NoTrade row; model band 388.83-447.08), 12wk 377.71 (-6.1%); f=0.30 per L5 (calib_1w -0.299 degenerate). Execution pending the next US open 2026-07-21; reprice if the open gaps >~1.5%; grade from the execution price. L2/L3/L4/L5/L6/L8, UT-3/UT-9/UT-11 applied. · news

decided @ 402.30 · stop 385.00 · t12w 377.71

Profit-take on an armed winner (+10.7%, Gain_ATR 4.8): conviction collapsed and the 12wk view is dead (176.34 < spot 187.38) despite a fresh BreakoutUp label — the forward view and consensus disagree with the breakout, so bank 30%. Already halved 07-14; one new tick -> profit_take_1 (30%), keep 1,104 to ride. G2 suppresses valuation amplify (DCF 82 unreliable vs Target 176). Raise chandelier trail.80. Executes at the 07-20 open (L8); reprice if the open gaps >1.5%.

decided @ 187.38 · stop 179.80 · t1w 184.07 · t4w 208.46 · t12w 176.34

A +15.5pct armed winner (Gain_ATR 5.02, T12 105.7pct) whose signal deteriorated hard this session — conviction collapsed (a bullish add-candidate flipping to a neutral hold) on a dead 12wk — so we bank a measured 30pct and keep 70pct to ride the trail. Fire tick (b) conviction collapse; persistent dead-12wk (c) does not escalate to 50pct (optional_trim counterfactual: trims give back -0.6pct). Valuation MoS -3.087 would bump but G2 suppresses the amplify (DCF 33.47 << Target 53.44). Keep; raise trail 52..48 (2.0xATR chandelier). News neutral: Evercore Outperform PT is 07-08 stale/priced-in, supports keeping the residual, does not cancel a signal-based partial. 4wk n/a (65.11 target not conviction-supported at cv22). · news

decided @ 56.50 · stop 53.48 · t1w 55.58 · t12w 53.44

Complete the armed L2 exit: sell 236 more of TSM (reduce -sh residual on stop 380.00). The prior 07-17 SELL 90% only PARTIALLY executed - the auto-executor sold just @ 392.12, leaving 266 held - so the de-risk is incomplete and per L3/UT-3 escalate rather than re-defer. The bear case has STRENGTHENED: row is bearish AVOID/RallySell_BearTrend (conv 49), Target_12Week flipped from +0.4% flat (07-17) to -3.8% NEGATIVE (383.29 vs close 398.37), and the close is a decisive break of the documented 426.80 stop (GainATR -2.15, -9.05% underwater). L2 fully satisfied (stop-break + negative 12wk + bearish signal). Keep a 30-sh residual (TSMC's record Q2 warrants a small tail; close 398.37 is still above EMA200 359.04 so not a full below-EMA200 exit) on stop 380.00 (close - 1xATR). News NEUTRAL for the trade: TSMC Q2 was a blowout (rev +36% YoY, EPS +77%, HPC 66%, + Arizona, FY26 guide >40%) but the stock SOLD the news (-2.77% post-print, still sliding) - fundamentals already priced, price action rejected them; news does not cancel the signal exit. Valuation GROWTH_PRICED_IN MoS -16.05 but DCF is broken -> G2 suppress, val-blind. PROFIT_ARMED prints but underwater (GainATR -2.15) = arm-on-loss mislabel, not a profit-take. Execution pending next US open 2026-07-20; reprice if the open gaps >~1.5%; grade from the execution price. Proceeds L2/L3/L4/L5/L6/L8 applied. · news

decided @ 398.37 · stop 380.00 · t4w 403.50 · t12w 383.29

Trim TSM by half: a record Q2 beat (rev +36% YoY, profit +77%, FY26 guide raised >40%) still sent the stock down ~3-4% on a raised -64B capex + margin worry, and the settled 07-16 close 409.74 is the post-print decider firing bearish. Signal escalated NO TRADE -> STRONG SELL - REDUCE (RallySell_BearTrend, Sell_Rank 1), the 12wk is dead (411.26, +0.4%), the name is -6.46% underwater, and the de-risk has gone unexecuted 4 straight sessions. Half, not full: still above EMA200 and the 375.56 stop, FY guide strong, 12wk not yet negative (no L2 full-exit basis). Escalated from the 30% catalyst-cap now that earnings passed. val_adj 0 (G2 DCF blind); PROFIT_ARMED spurious. Retains 211 on the 375.56 stop; further exit on a close < EMA200 358.93 or < 375.56. Frees. · news

decided @ 409.74 · stop 375.56 · t12w 411.26

Loss-prevention: KR broke its stop (60.03, -2.37%) and flipped to STRONG SELL-REDUCE below its 200-day EMA with a sharply negative 12-week view (43.91, -25%) — an L2 stop-break + neg-12wk exit, and not-trimming it on 07-09 already cost 5.5%. But KR is UNDERVALUED with Quality_Pass True (F-Score 7), so valuation argues down one tier: take only 50% ('sell the cheap, quality name at the minimum') and keep on stop 54.95. Executes at the 07-17 open (L8).

decided @ 58.61 · stop 54.95 · t1w 54.20 · t12w 43.91

Lennar's spring selling season came in weak — UBS cut its target to (Neutral) and JPMorgan to (Underweight) on lowered FY26 guidance, and the stock is -13.6% YTD. Technically a stable 3-print STRONG SELL-REDUCE trading below its 200-day EMA with a dead 12-week view (70.20, ~-19%): a valid trend exit despite the -7 whipsaw cell, since the below-200DMA + negative-forward stack is structural. Exit the Lennar complex (paired with LEN-B); residual winds down on stop 80.26. Executes at the 07-17 open (L8). · news

decided @ 86.40 · stop 80.26 · t1w 81.54 · t12w 70.20