AI · HK Financials — Trades

BoCom upgraded to STRONG BUY - ADD (cv82, MomentumContinuation) after three straight high-conviction holds, and China's big banks rallied on solid Q3 results (BoCom profit +10.1%). We pyramid the winner at the model's entry. Ops: fires the 11-05 re-arm pre-commit (SBA cv>=75, Est_1W 8.85 >= Entry 8.83); HF-3 clear (Est_12W 8.99 > close 8.86). 77.96% x 13,000 = 10,135 -> = HK. RSI_DIV is not armed (Gain 1.64 ATR) and does not block. Stop ratcheted 8.32 -> 8.37. Forward view is thin (+1.8% 12wk). Expires 11-12. · news

decided @ 8.83 · stop 8.37 · t1w 8.85 · t4w 8.88 · t12w 8.99

HSBC printed STRONG SELL - REDUCE (cv82, FailedBreakout_Down_20D) right after a +3.4% pop to 141.10, and HK sell signals have been this book's reliable cell. Sell half and bank +6% on the 133.00 fill. Ops: this is the 2nd consecutive non-bullish held print (NO TRADE -> SSR), which fires the 11-04 pre-commit SELL 400. The model asks 85%, but a single late-flipped print sizes at the lower tier (HF-P55 spirit), and the makes it. The Est_* path is mildly positive (+1-3%), so we keep the other lot. Residual stop 133.60 (printed, about breakeven). A 2nd SSR print -> SELL the last 400. · news

decided @ 141.10 · stop 133.60 · t1w 142.50 · t4w 143.09 · t12w 145.77

BoC flipped to AVOID (bearish FailedBreakout_Down, cv62) on its 2nd straight non-bullish print, and the forward view is flat at every horizon (Est 6.08/6.09/6.09). Trim 30% into the +2.5% bounce. Ops: this fires the 11-04 pre-commit (consecutive_non_bullish = 2) as written (HF-P22). 30% of 6,000 =. The count resets on the cut. Residual 4,000: stop 5.67; 2 more consecutive non-bullish prints -> SELL 1,000.

decided @ 6.09 · stop 5.67 · t1w 6.08 · t4w 6.09 · t12w 6.09

HKEX printed a STRONG BUY breakout (cv85) on a +2.8% close. The model's own entry sits 1.1 ATR below the market, so we bid there rather than chase. Valuation is only mildly rich (MoS -0.77) and the quality gate passes. Ops: adj 85-4(val)-10(BreakoutUp_20D|buy bias, 0/6 hit) = 71, which clears the floor. HF-3: Est_12W 385.99 is below the close but equal to the entry, so the order is a queue-at-pullback, not a chase. HF-4 is clear (Est_1W 399.34 >= entry). Sizing 0.904 x HK x 20% = HK -> = HK. Q3 results are due ~11-06 (Yahoo), inside the queue window; a fill on a results dip is a pullback fill, and the stop is 366.39. Expires 11-10. · news

decided @ 385.97 · stop 366.39 · t1w 399.34 · t4w 399.02 · t12w 385.99

CCB upgraded to STRONG BUY - ADD at conviction 90 (MomentumContinuation, from HOLD 72) on a fresh high close, so we pyramid the winner. Ops: the model's buy-stop is 10.56, but Est_1W 10.49 < 10.56, so HF-4 demotes it to a pullback limit at entry - 0.25 ATR (10.49). 77.96% x 13,000 = 10,135 -> = HK. HF-3 is clear (Est_12W 10.60 > close). PROFIT_ARMED is the T12 artifact (true progress 84%, Gain 2.14 ATR < 3), so it is not armed. Stop ratcheted 9.87 -> 9.96. Expires 11-10.

decided @ 10.49 · stop 9.96 · t1w 10.49 · t4w 10.53 · t12w 10.60

Bank of China closed below its stop for the first time (5.85 vs 5.86) and printed a second straight NO TRADE ('Consensus conflict + low conviction'), so the written pre-commit fires: sell at the next open. It is a first-step trim, not a full exit, because the 12-week estimate (5.89) is still above the close, so L2's negative-12wk leg is not met. Both 11-02 triggers fired at once and execute as ONE order (no stacking). The breach is marginal (0.17%, 0.06 ATR) but the comparator is strict per HF-P22. NoTrade|sell bias -8 not applied (HF-P28/P52/P63 phantom-grade caveat). Remaining 6,000 get a 5.67 stop (close - 1.0 ATR). Sector context: Q3 bank profits beat, the post-print rally reversed, and no source explains the BoC weakness. Valuation NA_CCY, so val_adj 0. · news

decided @ 5.85 · stop 5.86 · t1w 5.86 · t4w 5.86 · t12w 5.89

HSBC prints a fresh BUY at conviction 73 and Buy_Rank 1. It is an oversold bounce at RSI 28.8 after a two-week slide from ~163, and both the 1-week (135.66) and 12-week (136.25) estimates sit above the 134.10 entry, so this is not a falling knife. We buy at the printed entry with a 128.98 stop (-3.8%, 1.65 ATR). Gates: HF-3 non-inverted 12wk MET (+1.6% vs close); HF-4 Est_1W >= Entry MET (+1.2%); quality gate OFF on an NA_CCY row (gate passes NA_*, precedent 08-17/09-04); no cell for OversoldBounce_Up|buy, so bias 0; Entry_Distance 0.0 and close near the session low, so no chase. Size 26.5% x HKx 20% = HK / 134.10 =, x1.0 (NA). Limit at the printed entry per HF-P13. Third-interim ex-dividend ~11-05 per hk horizon (advisory). Single print: one signal only, so stability is low. Reprice per L8 on a >1.5% gap. · news

decided @ 134.10 · stop 128.98 · t1w 135.66 · t4w 137.89 · t12w 136.25

CCB held its STRONG BUY-ADD on a second straight breakout close (10.26, conviction 82), but the 1-week estimate of 10.21 sits below the printed 10.29 entry, so the add is repriced to a half-size limit at 10.24 rather than bought through the trigger ahead of Q3 results. Supersedes the unfilled 10-@10.09 limit (low 10.10, missed by 0.01), which is outside the live provenance band 10.24-10.34; this replaces it, it does not stack. HF-4 material (Est_1W -0.78% vs Entry) -> demote, not veto (HF-P67), half size (HF-P35); 10.24 is the provenance-band floor because Est_1W 10.21 is outside it. Size 77.96% x 9,000 = 7,016 x 0.5 =. Stop raised 9.66 -> 9.87 (printed; 1.84 ATR cushion). HF-3 clears (10.41 > 10.26). Reprice per L8 on a >1.5% gap. · news

decided @ 10.24 · stop 9.87 · t1w 10.21 · t4w 10.25 · t12w 10.41

China Merchants Bank printed the book's top signal, a STRONG BUY at conviction 100 on a 20-day breakout to a 52-week closing high, so reopen the line at half size at the printed 54.57. Half size because the 12-week estimate of 54.87 is only +0.5% above entry and Q3 results are not yet out. Written 3968 re-arm: cv>=65 MET, Est_1W 54.58 >= Entry MET, Est_12W >= 1.01 x Entry (55.12) MISSED by 0.25 (0.45%, 0.18 ATR), which is above the HF-P14 de-minimis band, so HF-P35's small-shortfall disposition applies (half size, limit). Size 90.4% x HKx 20% = HK x 0.5 =. gtc_limit rather than the printed buy-stop so an unseen Q3 gap-up cannot fill it (L6). Val NA (FV_Flag jump): val_adj 0, gate off. BreakoutUp_20D|buy 0/3 is report-only. Top-up re-arm in state. Reprice per L8 on a >1.5% gap. · news

decided @ 54.57 · stop 50.99 · t1w 54.58 · t4w 55.08 · t12w 54.87

BoCom graduated from three rising WATCH prints -> 55) to a BUY at cv72 (Buy_Rank 3), with every model horizon at or above the 8.48 entry and a tight 8.32 stop (-1.9%), so open a starter position at the printed entry. HF-3 clears (Est_12W 8.63 > close 8.485); HF-4 clears (Est_1W 8.50 >= 8.48). The quality gate is off because the row is NA_CCY (HF-P32). Size 26.5% x HK x 20% = HK ->, ~HK. FailedBreakdown_Up_20D|buy +7 bias NOT applied (HF-P28/P63: phantom-contaminated cell); raw cv72 clears the floor unaided. Reprice per L8 if the open gaps >1.5%.

decided @ 8.48 · stop 8.32 · t1w 8.50 · t4w 8.55 · t12w 8.63

Bank of China flipped from HOLD 47 to STRONG BUY-ADD cv82 on a VWAP pullback-buy, the book's L1-favoured entry shape, with 1-week, 4-week and 12-week estimates (6.14 / 6.18 / 6.37) all above the 6.10 entry, so add at the printed level. Entry_Distance -0.25 ATR sits at the no-chase threshold, so it is queued at the printed Entry (gtc_limit), not bought at the close. Size 77.96% x 5,000 =. Carried stop 5.86 kept (printed 5.82 is lower; ratchet). Single print after HOLD: not a direction reversal (HF-P54/55 discount not triggered); HF-Q14 is PROPOSED/inert. PullbackBuy_VWAP|buy n=4 is report-only.

decided @ 6.10 · stop 5.86 · t1w 6.14 · t4w 6.18 · t12w 6.37

China Merchants Bank closed 51.45, below its 51.97 trailing stop, as conviction slid over four sessions, so the written stop pre-commit exits the one-lot line with a +4.3% gain on cost. Stop-discipline exit (ACTIVE HF-P22, no decisive qualifier; -0.40 ATR break; no ex-div, last ex 07-02). =, full exit. Reprice if open gaps >1.5%. Re-arm: BUY/STRONG BUY-ADD cv>=65 AND Est_1W >= Entry AND Est_12W >= 1.01x Entry -> gtc_stop @printed Entry.

decided @ 51.45 · stop 51.97 · t1w 51.48 · t4w 51.64 · t12w 51.83

BoCom closed 8.32, just below its 8.33 trailing stop, after its brief BUY-ADD spike fully unwound (conviction -> 40), so the written pre-commit exits the remaining odd-lot line with a +7.7% gain. Stop-discipline exit (ACTIVE HF-P22; -0.05 ATR break; no ex-div). Line is a 500-share odd lot - odd-lot fill may take a small discount; clears an untrimmable line (HF-Q4). Arm T12-only (Gain 2.91) suppressed.

decided @ 8.32 · stop 8.33 · t1w 8.31 · t4w 8.39 · t12w 8.50

Bank of China closed 5.99, below its 6.01 trailing stop, and conviction slid over four sessions, so the written stop pre-commit trims roughly a third of the line while the position is still +2.8% on cost. Stop-discipline exit (ACTIVE HF-P22, no decisive qualifier; -0.16 ATR break; no ex-div, last ex 07-02). Residual 5,000: new stop 5.86; pre-commits close < 5.86 -> SELL 2,000, 2 consecutive NO TRADE -> SELL 2,000. Reprice if open gaps >1.5%.

decided @ 5.99 · stop 5.86 · t1w 5.99 · t4w 6.01 · t12w 6.17

Bank of China stays bullish for a 4th straight print (BUY-ADD cv71, VWAP pullback) with a positive 12-week view (6.39, +3.1% vs close), but conviction eased from 90, so the add is smaller and repriced to the live entry band: 6.09 (printed Entry 6.06 + 0.25 ATR, ~1 ATR under the 6.20 close). Supersedes the unfilled 10-13 gtc_limit @6.17 (low 6.18 missed by one tick) - does not stack (HF-P54). 43.88% x 5,000 =. HF-4 clear (6.20 >= 6.09). Armed (Gain 4.30) but not fired (cv -19 < 20; T12 6.39 >= 1.02x close) -> trail held 6.01. Expires 10-20.

decided @ 6.09 · stop 6.01 · t1w 6.20 · t4w 6.12 · t12w 6.39

CCB reprinted BUY-ADD (cv71, Buy_Rank 1), now as a VWAP pullback - the book's preferred entry family - with positive 1-week and 12-week views (9.91 / 10.12), so add again but only on a dip to the printed entry 9.70 (0.91 ATR under the 9.855 close). Follows the 10-13 add that filled @9.94 today. Sized on the scan-basis 6,000 (43.88% ->,) to avoid compounding a same-day pyramid; HF-4 clear (9.91 >= 9.70), HF-3 clear. PROFIT_ARMED is the T12 leg only (Gain 1.14 on the 9.66 cost, HF-P50). Stop 9.59 (carried ratchet). Expires 10-20 (Chung Yeung 10-19 assumed).

decided @ 9.70 · stop 9.59 · t1w 9.91 · t4w 9.88 · t12w 10.12

Bank of China strengthened again to STRONG BUY-ADD cv90 (Buy_Rank 1) on a 20-day breakout, the day after the 6.15 add filled, with a positive 12-week view (6.42, +2.7% vs close) - pyramid on rising conviction, but queued at the printed entry 6.17 because the close sits at the session high (no chase). Live,000 (scan pre-fill shows 3,000): 77.96% x 5,000 =. HF-4 clear (Est_1W 6.32 >= 6.17); HF-3 clear. RSI_DIV on a genuine arm (Gain 4.2 ATR on live avg 5.724) G1-softened to trail; stop 5.92 -> 6.00 (2.0x ATR chandelier). Expires 10-15.

decided @ 6.17 · stop 6.00 · t1w 6.32 · t4w 6.20 · t12w 6.42

StanChart closed decisively below its stop (218.00 vs 222.79, -2.2%, 0.57 ATR) on a second straight NO TRADE, and its own 12-week estimate (213.36) sits below the close - a broken line with no forward case, so exit in full. L2 stop-break + negative 12wk (pre-commit 'close < 222.79 -> SELL 200' fired; supersedes the HF-P11 N=2 SELL 50). PROFIT_ARMED is the inverted-T12 artifact (HF-P50; Gain -1.26 ATR). Not an HF-EOQ-2 case (below VWAP 235.47, dead 12W). Realised -HKvs avg 228.63. Reprice if the open gaps >1.5%.

decided @ 218.00 · stop 222.79 · t1w 218.19 · t4w 220.41 · t12w 213.36

CCB strengthened to STRONG BUY-ADD cv82 on a second straight pullback-to-VWAP print (Buy_Rank 1), the day after the 9.68 add filled, with a positive 12-week view (10.19, +5.2%) - pyramid on rising conviction in the book's most reliable buy family (L1). Limit at the printed Entry 9.69; close 9.735 is 0.5 ATR off the high, not a chase. HF-3 clear; HF-4 clear (Est_1W 9.75 >= 9.69). 77.96% x live 6,000 =. Line stop 9.47 held (printed 9.35). PROFIT_ARMED is the T12_Progress leg (live Gain 1.27 ATR), no tick. Expires 10-14.

decided @ 9.69 · stop 9.47 · t1w 9.75 · t4w 9.66 · t12w 10.19

China Merchants Bank printed a second straight NO TRADE after decaying from a BUY-ADD, so the pre-committed half trim fires while the 12-week view (+5%) argues for keeping the other half. Profit-take armed (T12_Progress 95.0, Gain 1.74 ATR) + tick (d) 2/2 NoTrade = HF-P11 N=2 pre-commit from 10-05; 30% x 1,000 = board lot (HF-P65). Ref close 51.00, reprice if open gaps >1.5%. Residual 500 keeps stop 50.16. HF-EOQ-2 shadow would have blocked (trimmed 10-02) - logged, not applied.

decided @ 51.00 · stop 50.16 · t1w 50.97 · t4w 51.32 · t12w 53.66

Ping An closed below its stop on a fresh 52-week breakdown, with the engine at STRONG SELL - REDUCE and every forward estimate below the close, so the last lot is exited. L2 stop-break (52.00 < 52.04) + negative 12wk (Est_12W 50.87); fires the written 09-30 pre-commit (HF-P22). Engine 84.59% x 500 = (HF-P25 round-up, risk leg). Break is marginal (0.05 ATR) but the label is a formal SELL, not NoTrade, so HF-P30 second-session rule does not apply. Realized ~-HKvs cost 52.85. · news

decided @ 52.00 · stop 52.04 · t1w 51.82 · t4w 51.43 · t12w 50.87

StanChart closed 1.4% below its stop as conviction collapsed and the 12-week view turned negative, so half the line is cut and the rest rides a wider trail. L2 stop-break (229.80 < 233.10, 0.47 ATR) + Est_12W 226.07 < close; fires the 09-30 pre-commit SELL 200 (trim first, HF-P30). PROFIT_ARMED is a T12-inversion artifact (Gain 0.17 ATR, HF-P50), suppressed. Remainder 200 trail 218.46 (chandelier 232.60 - 2x7.07). Earnings 10-28 outside window. · news

decided @ 229.80 · stop 218.46 · t1w 229.91 · t4w 232.89 · t12w 226.07

CMB is up about 4% on the position, but conviction fell from in one session and the forward estimates are flat, so a third of the line is banked. Profit-take (ADR-0012): armed via T12_Progress 98.7 (non-inverted, Gain 1.77 ATR) + tick (b) conviction -22. Tick (c) excluded as the collinear T12 artifact (HF-P45/P51), so 1 tick -> 30% x 1500 = lot. Banks ~+HKvs avg 48.65. Remainder 1,000 keeps stop 50.16. Churn caveat: the 09-30 ADD filled at 50.70 today (HF-P64 over-trim watch). · news

decided @ 50.60 · stop 50.16 · t1w 50.53 · t4w 50.65 · t12w 51.26

Bank of China is the book's biggest winner (+11.9%, 5.4 ATR above cost) and printed a fresh RSI divergence on top of its profit-armed flag, so the book banks a quarter of the line and trails the rest at 5.90. OPERATIONAL: ADR-0012 profit-take, armed (Gain_ATR 5.37, non-inverted T12 6.37 > 6.085) + tick (a) RSI_DIV; G1 does not protect (HOLD cv62 PullbackBuy, not a fresh Breakout/MomentumContinuation >= 80). 1 tick -> profit_take_1 30% x 4,000 = 1,200 -> lot 1,000 (rounded down, no risk leg, HF-P25). NA_CCY -> no valuation tier bump. HF-P64 over-trim caution noted: minimum lot-tier taken. Remainder 3,000 stop 5.90 (chandelier 5.875 below). · news

decided @ 6.08 · stop 5.90 · t1w 6.13 · t4w 6.02 · t12w 6.37

CCB flipped from HOLD to STRONG BUY - ADD at conviction 82 in the book's most reliable family (PullbackBuy_VWAP), with a rising 12-week view (10.30, +6.4%) and a 1-week estimate above entry, so the book adds on a pullback to the model's 9.68 limit rather than chasing a close near the day high. OPERATIONAL: engine ADD 77.96% x 2,000 = 1,559 -> board lot 1,000, nearest = 2,000 (HF-P25). No-chase: Entry_Distance -0.74 ATR, close 9.82 vs high 9.85 -> QUEUED GTC limit (HF-P6: 0.74 ATR from close, inside 1.0 ATR). HF-3 clear (Est_12W 10.30 > 9.82), HF-4 clear (Est_1W 9.86 >= 9.68). Card stop = engine 9.30; the original 2,000 line trails at 9.47 (armed, no tick -> chandelier raise 9.46 -> 9.47). Expires 10-06; withdraw if conviction < 65. · news

decided @ 9.68 · stop 9.30 · t1w 9.86 · t4w 9.75 · t12w 10.30

CMB upgraded from three HOLD prints to BUY - ADD at conviction 72 on a PullbackBuy_VWAP signal, holding above EMA20/50/200 with a positive 12-week view (52.73, +2.4%), so the book rebuys the 500 it trimmed on 09-28 at the model's own 1-week level. OPERATIONAL: engine ADD 43.88% x 1,000 = 439 -> lot 500. HF-4 shortfall Est_1W 51.62 vs Entry 51.73 = -0.21% / 0.10 ATR, on the HF-P14 band edge -> HF-P35 'small' remedy: limit AT Est_1W 51.62 (inside Entry +/-0.25 ATR provenance band 51.46-52.00); the half-size leg cannot apply below one. Line stop 50.16 held (chandelier 49.57 below it; armed, no tick). Pre-commit close < 50.16 -> SELL 500 carried. Expires 10-06. · news

decided @ 51.62 · stop 50.16 · t1w 51.62 · t4w 51.73 · t12w 52.73

Ping An escalated from AVOID to STRONG SELL - REDUCE at conviction 69, its 8th straight bearish print, with the close below EMA20/50/200 and a flat-to-negative 4-week estimate, so the book cuts half the position at roughly breakeven before the Golden Week Connect blackout. OPERATIONAL: fires the written 09-28 pre-commit (bearish print cv>=65 -> SELL 500, HF-P55 ladder half tier); engine Portion 84.59% not used (ladder sizes at the written tier; 500 =). PROFIT_ARMED suppressed (Gain_ATR 0.06, HF-P24/HF-P1). Remainder 500 keeps stop 52.04; pre-commit close < 52.04 -> SELL 500. FailedBreakout_Down_20D|sell n=3 report-only, no bias (HF-P63). · news

decided @ 52.90 · stop 52.04 · t1w 52.87 · t4w 52.22 · t12w 53.30

AIA broke its stop a second time, closing 73.75 below 74.05, and the engine flipped to STRONG SELL - REDUCE (RallySell_BearTrend cv60) with the price under EMA20/50/200, so the remaining are exited. OPERATIONAL: 09-24 written pre-commit (HF-P22) 'close < 74.05 -> SELL 600'; HF-P30 first-step trim already taken 09-23 (-@75.10), so this is the confirming second session. Break 0.16 ATR. Est_12W 76.45 > close (strict L2 not met) - basis is the pre-commit risk leg + bearish label. NoTrade|sell -10 cell not applied (HF-P63). · news

decided @ 73.75 · stop 74.05 · t1w 73.76 · t4w 74.12 · t12w 76.45

CMB closed 50.50 below its 50.88 stop with conviction sliding and a 12-week estimate (50.07) below the close, so a first-step trim of locks gains on a +3.8% position. OPERATIONAL: 09-23 written pre-commit (L2 stop-break + neg-12wk, HF-P30 first step). Break 0.38 ATR. Remainder 1,000 re-based to EMA50 50.16; pre-commit close < 50.16 with Est_12W < close -> SELL 500. PROFIT_ARMED is the T12-leg inversion artifact (Gain_ATR 1.86) - suppressed per HF-P50. · news

decided @ 50.50 · stop 50.16 · t1w 50.66 · t4w 50.22 · t12w 50.07

StanChart settled at 236.00, below the 236.73 stop, with the model's 12-week view (230.27) under the close and conviction sliding, so the written first-step trim fires. Valuation is NA_CCY (no amplify). OPERATIONAL: 09-23 pre-commit (L2/HF-P30 first-step trim, HF-P22 execute-as-written); marginal break 0.12 ATR -> trim, not full exit. PROFIT_ARMED is a T12-inversion artifact (T12 230.27 < close, Gain_ATR 1.24) -> suppressed per HF-2/HF-P50; ticks (b)/(c) add no size. Remainder 400 stop 233.10 (EMA50); pre-commit: settled close < 233.10 with Est_12W < close -> SELL 200. · news

decided @ 236.00 · stop 233.10 · t1w 234.62 · t4w 234.38 · t12w 230.27

AIA settled at 75.35, below its 75.75 stop, on a second consecutive NO TRADE print, and it is now under its 200-day average (77.59). That fires the risk-leg trim written the day before. Cutting steps the book out of a name whose signal has gone indeterminate. OPERATIONAL: the 09-22 pre-commit (settled close < 75.75 -> SELL 800, HF-P25 risk leg) is executed as written (HF-P22). It subsumes the 2nd-NT pre-commit (SELL 400); the larger is taken, the two are not summed. The break is marginal (-0.53%, -0.23 ATR), but HF-P22 retired the 'decisive' qualifier. Est_12W 78.54 is above the close, so this is a pre-commit basis, not strict L2. The NoTrade|sell cell (0/5, bias -10) is not applied (HF-P63). Remaining 600: stop 74.05 (09-21 printed level, below the 74.20 day low); a settled close < 74.05 -> SELL 600. Reprice if the open gaps >1.5% (summit 09-24). · news

decided @ 75.35 · stop 74.05 · t1w 75.43 · t4w 76.32 · t12w 78.54

Ping An has printed a bearish signal for a third straight session (STRONG SELL - REDUCE cv65, Sell_Rank 1), with no news behind it. The written pre-commit for this case fires, so the book halves the remaining position; the 12-week estimate is only mildly positive (+2.8%). OPERATIONAL: 09-21 pre-commit 'third_bearish_print' (HF-P22 execute-on-trigger, HF-P55 next half tier) -> SELL market at the 09-23 open. The engine's 84.59% is not followed (HF-P64 over-trim record). PROFIT_ARMED is a near-cost artifact (Gain_ATR 1.13), suppressed per HF-P24. The remaining 1,000 ride on stop RAISED 51.84 -> 52.04 (printed; ratchet-up), cushion 2.0 ATR. Next: a 4th bearish print cv>=65 -> SELL 500; a settled close < 52.04 -> SELL 500. Close-ref 53.90; reprice if the open gaps >1.5%. · news

decided @ 53.90 · stop 52.04 · t1w 53.98 · t4w 53.38 · t12w 55.41

Ping An has printed a bearish signal for a third straight session (STRONG SELL - REDUCE cv65, Sell_Rank 1), with no news behind it. The written pre-commit for this case fires, so the book halves the remaining position; the 12-week estimate is only mildly positive (+2.8%). OPERATIONAL: 09-21 pre-commit 'third_bearish_print' (HF-P22 execute-on-trigger, HF-P55 next half tier) -> SELL market at the 09-23 open. The engine's 84.59% is not followed (HF-P64 over-trim record). PROFIT_ARMED is a near-cost artifact (Gain_ATR 1.13), suppressed per HF-P24. The remaining 1,000 ride on stop RAISED 51.84 -> 52.04 (printed; ratchet-up), cushion 2.0 ATR. Next: a 4th bearish print cv>=65 -> SELL 500; a settled close < 52.04 -> SELL 500. Close-ref 53.90; reprice if the open gaps >1.5%. · news

decided @ 53.90 · stop 52.04 · t1w 53.98 · t4w 53.38 · t12w 55.41

BoCom is up about 7% on cost, but its breakout has lost steam: conviction fell from in one session, an RSI divergence appeared, and the model sees essentially no upside left at any horizon. The book banks half the gain. OPERATIONAL: ADR-0012 profit-take. Armed (Gain_ATR 3.00, T12 99.88%). Ticks fired: (a) RSI_DIV, (b) conviction -33, (c) T12 8.27 < 1.02 x close. That is 3 ticks -> profit_take_2 50% = 750 -> board lot 1,000 (nearest lot), which is the 09-18 pre-commit. G1 softening does not apply (conv 51 < 80). No valuation amplify (NA_CCY). The remaining 500 (odd lot) hold on stop 7.97; a settled close < 7.97 -> SELL 500. Re-arm buy counter reset to 0. · news

decided @ 8.26 · stop 7.97 · t1w 8.21 · t4w 8.25 · t12w 8.27

AIA printed a second straight buy signal after today's half-size purchase filled at 76.10, and the model's one-week view now agrees with the entry, so we complete the position to its target size. It has the strongest 12-week outlook in the book (+6%). OPERATIONAL: BUY cv68, 2nd print retires the 09-16 HF-4 half-size discount (Est_1W 77.31 vs 77.35 = -0.05%, de-minimis). Scan wrote Held=N (executor race) so sized by hand: target 26.5% x 2,037,751 x 20% = 108,001 less held 61,880 = 46,121 / 77.35 = (lot 200). Stop held 75.75 (model 75.60). MoS_FV NA_CCY non-authoritative. Conviction eased 4 and close sits under EMA200 77.64 -> completion, not a pyramid. HF-P34 same-family exposure carried. Withdraw if <65 before 09-22; L8 reprice on a >1.5% gap. · news

decided @ 77.35 · stop 75.75 · t1w 77.31 · t4w 78.57 · t12w 82.27

Ping An has sold off about 7.5% in two weeks to its lower volatility band with no bad news, and the model now rates it a top-ranked mean-reversion buy with a tight stop. Its quality screen passes, so we open a half-size position on a limit at the model entry. OPERATIONAL: STRONG BUY cv85 Buy_Rank 1, single print reversing AVOID 60/33/33 -> HF-P55 lower tier x0.5. HF-4 pass (Est_1W 53.07 >= entry); HF-3 pass (Est_12W 52.88 vs close 52.85) but forward view flat (4wk -1.96%) -> payoff rests on Target 55.17 vs stop 51.84 (R:R 1.9). 90.4% x 2,037,751 x 20% = 368,425 x0.5 = 184,213 / 52.99 = (lot 500) = HKWithdraw if <65 or AVOID before 09-22; 2nd consecutive STRONG BUY -> supersede to full size at the live entry (HF-P54). L8: re-adjudicate if the 09-18 open gaps >1.5% from 52.85. · news

decided @ 52.99 · stop 51.84 · t1w 53.07 · t4w 51.95 · t12w 52.88

AIA printed a second straight buy signal after today's half-size purchase filled at 76.10, and the model's one-week view now agrees with the entry, so we complete the position to its target size. It has the strongest 12-week outlook in the book (+6%). OPERATIONAL: BUY cv68, 2nd print retires the 09-16 HF-4 half-size discount (Est_1W 77.31 vs 77.35 = -0.05%, de-minimis). Scan wrote Held=N (executor race) so sized by hand: target 26.5% x 2,037,751 x 20% = 108,001 less held 61,880 = 46,121 / 77.35 = (lot 200). Stop held 75.75 (model 75.60). MoS_FV NA_CCY non-authoritative. Conviction eased 4 and close sits under EMA200 77.64 -> completion, not a pyramid. HF-P34 same-family exposure carried. Withdraw if <65 before 09-22; L8 reprice on a >1.5% gap. · news

decided @ 77.35 · stop 75.75 · t1w 77.31 · t4w 78.57 · t12w 82.27

Standard Chartered is almost 8% above our cost and, for a third straight session, every model horizon - one, four and twelve weeks - sits below today's price, so we bank a small slice ahead of the Fed decision and the Hong Kong rate follow on 17 September. The breakout signal is strong, which is why this is the minimum trim and keep running behind a raised stop. OPERATIONAL: BreakoutUp_20D STRONG BUY - ADD cv90 (trail ->, Exit_Warning PROFIT_ARMED, Gain_ATR 3.94 (genuine arm), +7.86%. FIRED tick (c) only: Target_12Week 244.31 < 1.02xClose and the inversion HK = 0.502 ATR clears the 0.5-ATR materiality line (HF-P66, promoted) by a hair; G1-softened does not protect (c); G3 does not protect (12wk negative). 1 tick -> 30%. HF-P54 ORIGINATION WEAKENED (engine flipped HOLD cv61 -> STRONG BUY-ADD cv90) -> supersede at lower tier 20% = ( of 50). SUPERSEDES the unexecuted 09-11 SELL 200 (invalid token market_next_open); does not stack. Proceeds HKrealised +HKvs cost 228.63. Stop RAISED 233.48 -> 236.73 (model; chandelier 237.47), cushion 2.16 ATR. Valuation NA_CCY -> 0. BreakoutUp_20D|sell n=1 report-only -> bias 0. Est 1wk -0.32% / 4wk -2.21% / 12wk -0.93%. COUNTER: engine bullish cv90, marginal tick, HF-P64 over-trim record -> lower tier. Cross-book: parent hk ADDS @245.87 tonight. · news

decided @ 246.60 · stop 236.73 · t1w 245.82 · t4w 241.16 · t12w 244.31

Bank of Communications printed another 52-week high, but its buy conviction collapsed from in one session and momentum is diverging at the most overbought reading in the book (RSI 73.6), so we sell back the lot added this morning at a small gain and keep the original 1,500-share line running behind a raised stop. The four- and twelve-week views are still mildly positive, which is why this returns the position to its pre-add size rather than cutting deeper. OPERATIONAL: MomentumContinuation_Up [BUY] HOLD cv59 (trail ->, Exit_Warning RSI_DIV,PROFIT_ARMED, close 8.16 = High_52W, Entry_Distance_ATR -0.29, Trend 100. Live cost 7.728 after the 09-14 fill (scan row shows stale 7.50/1,500 - race) -> Gain_ATR 2.53; arm from T12_Progress 99.51 on a NON-inverted Target_12Week (8.20 > 8.16) -> genuine per HF-P45, not suppressed. FIRED 2 genuine ticks: (a) RSI_DIV not G1-downgraded (cv59 < 80); (b) conviction -31. Tick (c) not fired. profit_take_2 50% x 2,500 = 1,250 -> nearest 1,000-lot 1,000; HF-P55 lower tier 30% = 750 -> also 1,000. -> (40%), remaining 1,500. Proceeds HKrealised +HKvs avg 7.728 (the 8.07 add round-trips ~+1.1%). Stop RAISED 7.75 -> 7.77 (model; chandelier 7.818), cushion 2.28 ATR. Valuation NA_CCY -> 0. MomentumContinuation_Up|sell n=1 report-only -> 0. Est 1wk -0.61% / 4wk +1.10% / 12wk +0.49%. COUNTER: HF-P64 names 3328 as the book's clearest over-trim; disclosed - tonight's basis is two genuine ticks, not tick (c). · news

decided @ 8.16 · stop 7.77 · t1w 8.11 · t4w 8.25 · t12w 8.20

Bank of China is our biggest winner at nearly 12% above cost and the most stretched name in the book, and tonight it added a momentum-divergence warning while conviction slipped, so we bank the minimum one-fifth and let run behind a raised stop. The model sees roughly flat prices over one to twelve weeks, so there is little forward reward being given up. OPERATIONAL: FailedBreakdown_Up_20D [WATCH] HOLD cv50 (trail ->, Exit_Warning RSI_DIV,PROFIT_ARMED (RSI_DIV new), RSI 70.90, VWAP +5.34%, Gain_ATR 4.90. FIRED tick (a) RSI_DIV (no G1 protection - FailedBreakdown family, cv50); tick (c) inversion 0.015 = 0.11 ATR below materiality, not counted; (b) -11 no. 1 tick -> 30% x 5,000 = 1,500 = 1. tie, no risk leg -> round DOWN (HF-P25) -> (20%). HF-P54 ORIGINATION STRONGER (09-11 basis was tick (c) alone) -> re-issue same size, repriced to live anchor; SUPERSEDES the unexecuted 09-11 SELL @6.045 (invalid token market_next_open); does not stack. Proceeds HKrealised +HKStop RAISED 5.79 -> 5.83 (model; chandelier 5.822), cushion 1.94 ATR. Valuation NA_CCY -> 0. Scorecard FailedBreakdown_Up_20D|sell -5 (n=18, hit_1w 0.25) -> adj 45; argues against the card and is phantom-contaminated per HF-P63 - disclosed. Est 1wk +0.41% / 4wk -0.25% / 12wk -0.25%. · news

decided @ 6.08 · stop 5.83 · t1w 6.11 · t4w 6.07 · t12w 6.07

Bank of Communications closed at a genuine 52-week high on the strongest trend reading in the book, and we are stepping back in with a disciplined limit rather than chasing the breakout. The bank trades on a single-digit earnings multiple with Beijing's recapitalisation of the big state lenders behind it, and the model's four-week and twelve-week views both sit above the breakout level, so the medium-term case supports adding - but the one-week view does not, which is why this is a pullback order and not a market buy. OPERATIONAL: signal BreakoutUp_52W [STRONG BUY] cv90, Buy_Rank 1, 77.96, Trend pillar 100, Regime Trending, close 8.09 = High_52W 8.09 exactly, above EMA20/50/100/200, VWAP +4.27%. HF-4 FIRES (Est_1W_Point 8.06 < the printed 8.12 buy-stop = LOW_QUALITY_ENTRY) and is applied AS WRITTEN - demote to a pullback QUEUE, not veto - so the buy-stop becomes a GTC limit at 8.07, the floor of the Entry_Price +-0.25xATR provenance band (8.074-8.166) and the level at which the one-week estimate no longer contradicts the fill. HF-3 non-inversion gate PASSES (Est_12W +0.62% vs close). Signal family upgraded off MomentumContinuation_Up (this book's 0-for-3, stop-first 1.0 cell) onto BreakoutUp_52W (1-for-1, report-only so bias 0). Volume: 77.96% x 1,500 = 1,169 -> HK board lot 1,000 ->; cost HK = 0.47% of the HKdry. Valuation NA_CCY -> val_adj 0, size x1.0, quality gate off (and it would never block an ADD). Stop RAISED 7.72 -> 7.75 (tonight's model stop; chandelier 7.723 and carried 7.72 both lower); risk 0.32/sh = 1.74 ATR. COUNTER-CASE DISCLOSED: RSI 71.70 rising, a printed RSI_DIV, and a fired profit-take tick (c) on the identical row, into a tighten-trail horizon - answered by the order's structure, a limit BELOW the market expiring 2026-09-16, the last HK session before the FOMC, so a fill is never carried into the Fed on a chased price. Counterfactual disclosed: no_chase_queue n=9, +4.97% median wh_1w [cost] - the price of the 09-09 and 09-10 flat rejections. · news

decided @ 8.07 · stop 7.75 · t1w 8.06 · t4w 8.18 · t12w 8.14

China Construction Bank has reached 98.5% of the model's twelve-week objective at a +3.9% gain, and it is by some distance the most event-exposed name in this book: China's August inflation print lands tomorrow morning, with the credit data, the activity data and the loan-rate fixing all inside the next nine sessions. With less than 0.8 ATR of room to the stop in front of that, we take a third off and carry the balance through the data. Stated plainly, this is a trim taken for exposure rather than for deterioration - the model still sees upside from here and the name was today's only holding to close green - so it is sized at the minimum tier. Operational: the arm is GENUINE, not the 2888/3968 inversion artifact (T12_Progress 98.46 with Est_12W 9.71 = +1.57% NON-inverted, so HF-2 suppression is inapplicable; Gain_ATR 1.44 is below the 3.0 bar, which is why the T12 leg had to be checked). ONE fire tick, and the weak one: (c) 9.71 < 1.02x9.56 = 9.7512, by only 0.42%. Tick (b) fires the OTHER way - conviction ROSE, the only holding to gain conviction tonight. profit_take_1 = 30%. Volume: 30% x 3,000 = 900, below one 1,000-share board lot, rounded UP to the minimum executable lot = 1,000 (33.3% effective, +3.3pp tier overshoot, disclosed). Valuation silent (NA_CCY); bias 0. Stop 9.37 UNCHANGED = max(live 9.37, engine 9.06, chandelier 9.061), cushion 1.99% / 0.76 ATR. Most defeasible card in the verdict: counterfactual optional_trim n=86 [saved] argues directly against it, and a dispersion-aware tick (c) would not have fired it at all. Residual. L8: executes at the 2026-09-09 open. · news

decided @ 9.56 · stop 9.37 · t1w 9.58 · t4w 9.69 · t12w 9.71

Bank of Communications is 99.4% of the way to the model's twelve-week objective at a +4.8% gain, with a forward view that is now flat rather than rising and conviction drifting lower for a second session. It is the smallest line in the book, it has the widest stop cushion, and we take the minimum profit-take tier off ahead of a fortnight carrying China inflation, US CPI and the Fed. Nothing here is bearish - the twelve-week estimate is still marginally above the price - this simply banks part of a completed move. Operational: arm GENUINE (T12_Progress 99.37 with Est_12W 7.91 = +0.64% NON-inverted, HF-2 inapplicable). ONE fire tick: (c) 7.91 < 1.02x7.86 = 8.0172; (b) cv = -4, below the bar; (a) and (d) do not fire. profit_take_1 = 30%. LOT OVERSHOOT DISCLOSED: 30% x 2,500 = = 0.75 of a board lot - flooring executes nothing (the 'never got cut' failure mode), so tonight's uniform rule is nearest lot with a floor of one lot, giving = 40% EFFECTIVE, a third above the intended tier. That is a sizing-fidelity defect in the lot logic, not a judgement, and it is filed as a systemic finding. Valuation silent (NA_CCY, no tier bump); bias 0. Stop 7.61 UNCHANGED = max(live 7.61, engine 7.51, chandelier 7.508), cushion 3.18% / 1.42 ATR, widest in the sleeve. F-Score 3 on tonight's refetch is the weakest in the book - advisory only, valuation never originates a sell. Residual. L8: executes at the 2026-09-09 open. · news

decided @ 7.86 · stop 7.61 · t1w 7.85 · t4w 7.90 · t12w 7.91

Bank of China is our best-performing holding, up 8.7% and 3.3 ATR above cost - the largest gain in the book - and it has now reached the model's twelve-week price objective. We take a fifth of the position off at the top of the range and keep four-fifths running in what is still a clean uptrend, ahead of the 17 September Fed and HKMA decisions. This is the thinnest of tonight's two trims and we say so: the one-week and four-week views are both still positive. Operational: armed on Gain_ATR 3.32 (highest in book) + T12_Progress 100.25 - the most genuine arm in the sleeve. Fires on tick (c) alone and only by -0.25% (Est_12W 5.90 vs close 5.915) while Est_1W and Est_4W are both +0.42%; tick (b) does not fire, cv ROSE. Ships because ADR-0012 forbids rendering a fired profit-take as optional prose, not because the tick is strong. profit_take_1 30% -> -> board lot 1,000 -> exact 1.5-lot tie rounded DOWN to 1,000 (20%). Stop HELD 5.79 by ratchet - model stop 5.62 and chandelier 5.63 are both lower and a stop is never walked down on a winner. val_adj 0 (NA_CCY), bias 0 (FailedBreakdown_Up_20D|sell n=11 hit_1w 0.50, actionable neutral). · news

decided @ 5.92 · stop 5.79 · t1w 5.94 · t4w 5.94 · t12w 5.90

China Construction Bank has reached 98.5% of the model's twelve-week objective at a +3.9% gain, and it is by some distance the most event-exposed name in this book: China's August inflation print lands tomorrow morning, with the credit data, the activity data and the loan-rate fixing all inside the next nine sessions. With less than 0.8 ATR of room to the stop in front of that, we take a third off and carry the balance through the data. Stated plainly, this is a trim taken for exposure rather than for deterioration - the model still sees upside from here and the name was today's only holding to close green - so it is sized at the minimum tier. Operational: the arm is GENUINE, not the 2888/3968 inversion artifact (T12_Progress 98.46 with Est_12W 9.71 = +1.57% NON-inverted, so HF-2 suppression is inapplicable; Gain_ATR 1.44 is below the 3.0 bar, which is why the T12 leg had to be checked). ONE fire tick, and the weak one: (c) 9.71 < 1.02x9.56 = 9.7512, by only 0.42%. Tick (b) fires the OTHER way - conviction ROSE, the only holding to gain conviction tonight. profit_take_1 = 30%. Volume: 30% x 3,000 = 900, below one 1,000-share board lot, rounded UP to the minimum executable lot = 1,000 (33.3% effective, +3.3pp tier overshoot, disclosed). Valuation silent (NA_CCY); bias 0. Stop 9.37 UNCHANGED = max(live 9.37, engine 9.06, chandelier 9.061), cushion 1.99% / 0.76 ATR. Most defeasible card in the verdict: counterfactual optional_trim n=86 [saved] argues directly against it, and a dispersion-aware tick (c) would not have fired it at all. Residual. L8: executes at the 2026-09-09 open. · news

decided @ 9.56 · stop 9.37 · t1w 9.58 · t4w 9.69 · t12w 9.71

Bank of Communications is 99.4% of the way to the model's twelve-week objective at a +4.8% gain, with a forward view that is now flat rather than rising and conviction drifting lower for a second session. It is the smallest line in the book, it has the widest stop cushion, and we take the minimum profit-take tier off ahead of a fortnight carrying China inflation, US CPI and the Fed. Nothing here is bearish - the twelve-week estimate is still marginally above the price - this simply banks part of a completed move. Operational: arm GENUINE (T12_Progress 99.37 with Est_12W 7.91 = +0.64% NON-inverted, HF-2 inapplicable). ONE fire tick: (c) 7.91 < 1.02x7.86 = 8.0172; (b) cv = -4, below the bar; (a) and (d) do not fire. profit_take_1 = 30%. LOT OVERSHOOT DISCLOSED: 30% x 2,500 = = 0.75 of a board lot - flooring executes nothing (the 'never got cut' failure mode), so tonight's uniform rule is nearest lot with a floor of one lot, giving = 40% EFFECTIVE, a third above the intended tier. That is a sizing-fidelity defect in the lot logic, not a judgement, and it is filed as a systemic finding. Valuation silent (NA_CCY, no tier bump); bias 0. Stop 7.61 UNCHANGED = max(live 7.61, engine 7.51, chandelier 7.508), cushion 3.18% / 1.42 ATR, widest in the sleeve. F-Score 3 on tonight's refetch is the weakest in the book - advisory only, valuation never originates a sell. Residual. L8: executes at the 2026-09-09 open. · news

decided @ 7.86 · stop 7.61 · t1w 7.85 · t4w 7.90 · t12w 7.91

Bank of China is still the book's biggest winner at +8.0%, but the trend has gone flat: the twelve-week model view now sits essentially on top of the current price, conviction has drifted lower for a second session, and the stop is only 0.6 ATR below the market with no room left to trail. We bank a further ~29% of the position into a dense macro fortnight - China inflation lands tomorrow and the Fed decides on 17 September - and hold the rest. This is a profit-take into a fading trend, not an exit; the signal is not bearish. Operational: armed genuinely on Gain_ATR 3.03 vs a real cost of 5.44 (HF-2 inapplicable, Est_12W +0.26% non-inverted); ONE fire tick only - (c) dead forward view, 5.89 < 1.02x5.875 = 5.9925 - so profit_take_1 = 30% minimum tier; (a) no (RSI_DIV cleared 09-07), (b) cv = -4, below the 20pt bar, (d) no. Volume 30% x 7,000 = 2,100 rounded to nearest 1,000-share board lot = 2,000 (28.6% effective). Valuation silent (NA_CCY, val_adj 0, no tier bump); bias 0 on FailedBreakdown_Up_20D|sell (n=8, hit_1w 0.50). Stop 5.79 UNCHANGED = max(live 5.79, engine 5.59, chandelier 5.588), cushion 1.45% / 0.59 ATR, tightest in the book. Caveat disclosed: tick (c) fired 5-of-5 across the sleeve for an 8th consecutive session and is non-selecting for HK banks; counterfactual optional_trim n=86 median +5.96% wh_4w [saved] argues against. Residual. L8: executes at the 2026-09-09 open; reprice if the open gaps >~1.5%. · news

decided @ 5.88 · stop 5.79 · t1w 5.90 · t4w 5.90 · t12w 5.89

Bank of Communications is 99.6% of the way to its twelve-week objective at a +5.1% gain, so we take a further ~29% off and hold the rest. This is the smallest and least-supported card in the verdict and is ranked last for that reason. The arm is GENUINE - T12_Progress 99.62 with a NON-inverted Est_12W (7.91 vs 7.88, +0.38%), HF-2 inapplicable. ONE tick, and it is the weak one: (c) Target_12Week 7.91 < 1.02 x 7.88 = 8.0376. (a) does NOT fire - RSI_DIV CLEARED overnight (it drove 09-04's 50% tier), row now prints PROFIT_ARMED alone; (b) does not fire - conviction is -14, below the 20-pt bar, the only holding whose conviction did not break; (d) does not fire. 1 tick -> profit_take_1 = 30%, the minimum tier. STATED PLAINLY: this card rests entirely on tick (c), which fired again tonight and which this book's systemic findings have called non-selecting for four sessions; RSI has cooled 72.7 -> 65.6. If tick (c) were correctly specified for low-dispersion names this card would not fire at all - it ships because the rule is the rule, at the minimum tier, on the book's smallest position. Valuation NA_CCY -> 0, no tier bump. Bias 0. Action price 7.88 = anchor close = Entry_Price exactly. Volume: 30% x 3,500 = 1,050 -> board lot 1,000, FLOORED not rounded up -> = 28.6% effective = HKrealised +HKvs cost 7.50; residual 2,500. STOP 7.61 UNCHANGED = max(live 7.61, engine 7.51, chandelier 7.512); cushion 3.43% / 1.47 ATR, the WIDEST in the sleeve - another reason for the minimum tier. L8: executes at the 2026-09-08 open. · news

decided @ 7.88 · stop 7.61 · t1w 7.86 · t4w 7.96 · t12w 7.91

China Merchants Bank is up 9.7% on our cost and closed at an overbought RSI 77, while the model's twelve-week view has quietly slipped below today's price. We are taking a quarter off the table and raising the stop sharply behind the rest. Note this is a much SMALLER trim than yesterday's, and deliberately so. SUPERSEDES the unfilled 09-03 card (SELL @51.90) - that card was sized to a formal STRONG SELL - REDUCE cv72 at Sell_Rank #1, and that label is GONE: the row flipped overnight to STRONG BUY - ADD cv90 on BreakoutUp_20D, the most violent reversal in the book. With the formal sell origination withdrawn, the 50% tier it earned goes with it; what survives is the ADR-0012 arm alone. Armed on the genuine leg: Gain_ATR 3.81 >= 3.0 on a real cost 48.65 (+9.66%). ONE tick: (c) dead forward view, Target_12Week 53.05 < 1.02 x 53.35 = 54.417. Tick (a) no second Exit_Warning code (PROFIT_ARMED standalone); (b) conviction ROSE; (d) no NO TRADE prints. 1 tick -> profit_take_1 = 30%; G1 cannot block it because tick (c) fires regardless of a fresh breakout. 30% of 2,000 =, rounded DOWN to the 500-share board lot = (25% effective). Valuation silent (NA_CCY -> val_adj 0). Scorecard: BreakoutUp_20D (PROFIT_ARMED)|sell is n=2 report-only -> bias 0. Action price 53.35 = anchor close; the printed Entry_Price 52.89 is a BUY-stop whose band is 52.58-53.20, so the close sits just above it - for a sell-at-open the close is the correct market reference and is stated as such, not invented. Volume = HKproceeds, realised +HK; residual 1,500. Stop RAISED 49.59 -> 50.88 (max of live 49.59, engine 50.42, chandelier 2.0xATR 50.883) - a 2.6% tightening that does most of the risk work here. Estimates stepped out of: 1wk 54.08 [50.98-57.71] (+1.37%); 4wk 54.02 [46.84-62.27] (+1.26%); 12wk 53.05 [43.40-67.17] (-0.56%). News: none found - Yahoo returns profile/quote pages only, no September event. L8: executes at the 2026-09-07 open. Chain: STRONG SELL - REDUCE cv72 -> STRONG BUY - ADD cv90 (origination reversed) -> formal-sell card WITHDRAWN -> ADR-0012 arm survives, tick (c) fires -> 30% tier, lot-floored to -> valuation silent -> scorecard 0 -> news none -> SELL 500, raise the trail hard. · news

decided @ 53.35 · stop 50.88 · t1w 54.08 · t4w 54.02 · t12w 53.05

Bank of China is the book's biggest winner at +9.3% and its conviction score collapsed forty points today as the stock gave back most of Friday's rally. We banked 30% at this morning's open at 6.10 and now take half of what remains, holding the rest behind an unchanged stop - a second profit-take into deterioration, not an exit, since the signal is not bearish and the model still shows no downside over twelve weeks. ADR-0012 armed on the GENUINE leg (Gain_ATR 3.22 >= 3.0 vs a real Avg_Cost 5.44), so HF-2 does not reach this card. TWO ticks: (b) conviction, -40 pts, label MomentumContinuation_Up -> FailedBreakdown_Up_20D; (c) Target_12Week 5.93 < 1.02 x 5.945 = 6.0639. (a) cleared - RSI_DIV gone overnight, PROFIT_ARMED standalone. 2 ticks -> profit_take_2 = 50%. G1 inapplicable (no longer a fresh Breakout/Momentum at cv>=80) and (b)/(c) fire regardless. SENSITIVITY DISCLOSED: tick (c) fired on holdings again tonight and is non-selecting on this book; strip it and this is 1 tick -> 30%. Valuation NA_CCY -> val_adj 0, no tier bump. Bias 0 (FailedBreakdown_Up_20D|sell n=5 actionable, hit_1w 0.50). Action price = anchor close, provenance band 5.911-5.989 (Entry 5.95 +/- 0.25 x ATR 0.157). at board lot 1,000 = HKrealised +HK; residual 7,000. STOP 5.79 UNCHANGED = max(live 5.79, engine 5.64, chandelier 5.631) - engine and chandelier both sit below the standing stop after today's fall; cushion 2.61% / 0.99 ATR. L8: executes at the 2026-09-08 open, reprice if it gaps >~1.5%. · news

decided @ 5.95 · stop 5.79 · t1w 6.00 · t4w 5.96 · t12w 5.93

Standard Chartered has been a good holding, up 2.17%, but the model now projects the shares roughly 3% LOWER over twelve weeks than where they trade today, and the near-term view is flat. The stock has made a confirmed lower high and closed down two sessions running while conviction sits at a weak 43. Taking 30% off the table banks the gain on that slice and leaves to run if the lower high is invalidated, with the protective stop held at HK. This is a disciplined partial profit-take on a deteriorating forward view, not a call that the bank is in trouble. OPS: ADR-0012 profit-take, ARMED + tick (c). PROFIT_ARMED via T12_Progress_Pct 103.19 (close ABOVE the 12wk target); Gain_ATR 1.11. Tick (c) DEAD FORWARD VIEW fires: Target_12Week 226.37 < 1.02 x 233.60 = 238.27, and 226.37 is below the close outright (-3.10%). Ticks (a) no other Exit_Warning code, (b) conviction FLAT (yesterday's -22 collapse stabilised, not reversed), (d) no NO TRADE prints. ONE tick -> profit_take_1 = 30%, never a full exit from a profit-take. HF-2 CHECKED, DOES NOT APPLY - not an oversold-family falling knife: FailedBreakdown_Up_20D, RSI 54.8, real +2.17% gain, 2.67% under the 240.00 52W high; the arm is legitimate. G1 does not protect (not a fresh BreakoutUp/Momentum at cv>=80; cv43 is less than half that bar). G3 SATISFIED (forward view negative). G2 moot (NA_CCY). VALUATION AMPLIFY BARRED: MoS_FV -7.51 would bump but Val_Signal is NA_CCY (GBP/USD-reporting vs HKD-price artefact) -> base tier retained. Volume 30% x 1,100 = 330 -> board lot 50 ->, leaving 750; proceeds HK, realised +HK. STOP UNCHANGED at 228.47 = peak_stop; the scan prints 224.61 which is BELOW peak and a risk line is never lowered. ADR-0020: 224.61 vs peak 228.47 = -1.69%, far inside the 15% Trail Erosion threshold, no mandatory trim from that class. HF-5 CLEARED: HKD 0.204 dividend went ex 2026-08-06, nine sessions past, not an ex-div artefact. RE-ISSUED unfilled from 08-18 (executor stale 9th session); the delay has already cost HKon. Counterfactual optional_trim n=50 median +1.60%/+5.96% SAVED argues against and is OVERRULED - a fired ADR-0012 tick is a mandatory DISPOSE, not an optional trim. Reprice if the open gaps outside 230.10-237.10 (+-1.5%, L8).

decided @ 233.60 · stop 228.47 · t1w 234.74 · t4w 234.42 · t12w 226.37

China Construction Bank is the only name in the book to print an actionable buy on two consecutive sessions at the same conviction, and its setup has genuinely improved: the twelve-week forecast has flipped from below the share price to above it, removing the objection that halved the position yesterday. The purchase is repriced 1% higher than yesterday's unfilled instruction rather than carried at the stale level. Size stays at half because the one-week forecast still sits marginally below the entry and because CCB reports interim results and decides its dividend on 28 August, a binary event seven sessions out. Tomorrow's loan prime rate fixing is the near-term risk to lending margins. OPS: PROVENANCE - 9.05 is simultaneously the anchor settled close AND the printed Entry_Price, Entry_Distance_ATR -0.00, NO CHASE; yesterday's HKis DISCARDED per the Step 7 provenance rule, not republished. Non-execution cost stated: same now HKvs HKHKworse. Base HK, modulator 1.0x, x0.5 HF-4 gate modifier = HK; /9.05 = 5,880 -> board lot 1,000 -> = HK = 2.70% of book. GATE DELTA vs 08-18: HF-3 inversion leg now CLEARS (Est_12W 9.06 > Close 9.05, was -0.11 ATR below); HF-4 still trips but at HALF magnitude (-0.11 ATR vs -0.28), Est_4W 9.14 comfortably above entry. Strictly better than the setup that justified a half-size buy yesterday; half size RETAINED not upsized, since a +0.11% 12wk view is a technical clear rather than a real forward case, and it is why this ranks 3rd of 3. Buy_Rank 4, Position_Status NEW. Stop 8.89 = 0.86 ATR. Target_Price 9.42 (+4.09%), best risk objective of the three. Horizon: FOMC minutes reaction 08-20 = tighten-trail on this exact ticker, stop sits inside a +-2.5% macro band; CCB interims + dividend 08-28 = tighten-trail. Buy cell UNGRADED n=2, bias 0, L1/HF-3 applied as rules. Reprice if the open gaps outside 8.91-9.19 (+-1.5%, L8).

decided @ 9.05 · stop 8.89 · t1w 9.03 · t4w 9.14 · t12w 9.06

Bank of Communications printed the strongest signal this book has recorded - a FailedBreakdown_Up_20D buy at conviction 82, the fourth consecutive rise from 54, with the shares above every one of their six moving averages and trading 2.1% above the volume-weighted average price without being overbought (RSI 63.5). The setup is not a chase: the close sits exactly at the model's entry level. Valuation is unavailable because the bank reports in renminbi against a Hong Kong dollar quote, so this is a purely technical case, and it is a strong one. We are adding to the bought earlier this week, but at half the normal size and only on a small dip, because Chinese bank interim results land in about a week and we would rather build the position through that event than into it. OPERATIONAL: half size (0.5x) on the confirmed 28-29 Aug mainland-bank 1H results window; limit set at the Est_1W point 7.53 per HF-4 (Est_1W 7.53 < Entry 7.56 = low-quality-entry signature -> demote to pullback-queue, never buy on conviction alone); 7.53 is inside the +/-0.25 ATR provenance band 7.526-7.594 off the printed Entry_Price 7.56. HF-3 inversion leg clears (Est_12W 7.71 > close 7.56). Sizing: 26.5% x 2,011,163.50 x 20% = 106,591.67, x0.5 = 53,295.84, /7.53 = 7,078 -> lot 1,000 -> = HK. Stop 7.42 is a raise from the recorded 7.33, 1.02 ATR cushion, risk HKExpiry 2026-08-26 is deliberately set BEFORE the 28 Aug BOC board meeting so no limit sits live into the print. ON EXPIRY: re-adjudicate at the then-live Entry_Price; do NOT re-post this limit (new queue_expiry counterfactual n=5 = -11.32% median 4wk cost from zombie limits). · news

decided @ 7.53 · stop 7.42 · t1w 7.53 · t4w 7.60 · t12w 7.71

Bank of China holds a buy signal at conviction 72 with the shares above all six moving averages, 2.3% above their volume-weighted average price, and within 2% of the 52-week high - a steady uptrend rather than a spike. We already own bought earlier this week and are topping up modestly. Two things keep this deliberately small: the conviction reading has stopped rising, and the board meets on 28 August to approve first-half results, a binary event five trading days away that we would rather not increase exposure into. The limit sits just below the close, so we only add if the market offers a slightly better price. OPERATIONAL: half size (0.5x) on the CONFIRMED 28 Aug 1H board meeting. Conviction FLAT, so this ranks second behind 3328. HF-4 fires (Est_1W 5.50 < Entry 5.51) -> limit at the Est_1W point 5.50, inside the +/-0.25 ATR band 5.487-5.533. Sizing: 106,591.67 x0.5 = 53,295.84, /5.50 = 9,690 -> lot 1,000 -> = HK; position becomes at blended 5.4586 = 7.94% of book. STOP 5.44 is the engine print and a raise from 5.32, but leaves only 0.71 ATR cushion (-1.18%) - a break is a REVIEW TRIGGER, not an automatic full exit, since L2 needs stop-break AND a negative 12wk and the 12wk is +2.1% positive. Expiry 2026-08-26, before the 28 Aug print. ON EXPIRY: re-adjudicate at market, do NOT re-post. · news

decided @ 5.50 · stop 5.44 · t1w 5.50 · t4w 5.57 · t12w 5.62

Standard Chartered has now gone three straight sessions with the signal engine unable to form a view -- NO TRADE at zero conviction, pillars in open conflict (trend bullish, momentum weak) -- and the 12-week outlook has turned negative, widening from -0.8% to -2.6% below the current price. The long-term uptrend is genuinely intact and that is why we are cutting 30% rather than exiting: the shares still sit 23.5% above their 200-day average, H1 results in late July were a record (US8bn pre-tax, +9%, wealth income +38%, a fresh $1bn buyback), and momentum actually ticked up today. The decisive point is that our HKstop sits BELOW our HKcost, so a stop-out would realise a LOSS of ~HK -- the +HKopen gain is not protected by anything. Selling at ~HKbanks HKthe stop cannot defend and cuts stop-risk on the line from HKto HKwhile stay long the trend. RE-ISSUE of the 08-05 card, which NEVER EXECUTED and never could have: it was written with execution 'market_next_open', a token paper_executor.py does not recognise (_EXEC_KINDS = market|gtc_limit|gtc_stop), so _eligibility silently skipped it -- this card uses 'market'. The section 9 count did NOT reset because the reset clause in _state.json is conditioned on an EXECUTED cut; N is therefore 3, one past the 08-04 pre-commitment. Origination is CLAUDE.md section 9 N-consecutive-NoTrade ONLY -- NOT a profit-take (PROFIT_ARMED suppressed a 10th session under HF-2: Gain_ATR 0.78 vs the 3.0 threshold, T12_Progress 102.69 merely 234.40/228.26 on an inverted 12wk), NOT valuation (NA_CCY blind; the MoS -7.556 is a USD-financials-vs-HKD-price artifact and is deliberately NOT used to bump the tier to 50%), NOT a stop break. Volume: 30% x 1,550 = 465 -> board lot 50 -> (29.03%), proceeds HKrealised gain +HK, remainder on UNCHANGED stop 222.07 (2.0-ATR chandelier prints 219.62, below the ratchet floor). HF-5: the HKdividend went ex TODAY -- the 230.20 open reflected it and the 234.40 close more than recovered it, so this is mechanical, not deterioration, and no L8 reprice applies. Counterfactual optional_trim (n=40, +2.44% median saved @1wk, 4wk effect weakening 9.05% -> 6.71%) argues against and is consciously overridden: advisory-only by construction, its samples are trims against INTACT signals, and L3 forbids re-deferring a written pre-commitment. Horizon: 08-07 NFP is macro with a tighten-trail stance, compatible with a 30% cut; no 2888-specific event inside 5 sessions. Post-execution: re-base the section 9 count from 08-07 -- a further trim needs a NEW basis (decisive close below 222.07, a non-PROFIT_ARMED Exit_Warning, a fresh high-conviction SELL, or a fresh 2-consecutive-NoTrade run); raise the stop only when the 2.0-ATR chandelier exceeds 222.07. · news

decided @ 234.40 · stop 222.07 · t1w 235.96 · t4w 236.22 · t12w 228.26

China Merchants Bank has pulled back into its rising trend and is now the strongest setup this book has produced since inception: a PullbackBuy_VWAP signal at conviction 71 and rank 1, with the shares reclaiming their 20-, 50- and 200-day averages and momentum turning up while RSI sits at a comfortable 53.9 -- strong enough to buy, not so extended that we are chasing. We are bidding HK, a quarter below the close, so the order only fills if the market comes to us; the HKstop keeps risk at HK (0.12% of the book) against a HKobjective, a 2.5:1 structure. Valuation is unreadable for this name (CNY financials against an HKD quote), so the case is purely technical and no valuation credit is claimed. Operational: (board lot 500) = HKnotional, from HKsized as 26.5% x HK book x 20% buy_pct, size modulator 1.0x (NA_CCY, no tier adjustment). Clears every gate by name -- floor 71 >= 65; HF-4 Est_1W 48.78 >= entry 48.65, which is the exact re-arm trigger written into the 08-05 card and the specific condition that blocked it yesterday; HF-3 Est_12W 49.16 = +0.53% vs close, non-inverted; L1 favoured PullbackBuy family; Entry_Distance_ATR -0.22 inside the -0.25 no-chase bar; quality gate OFF on NA_CCY though Quality_Pass is TRUE independently, the only such name in the book. Honest caveat: PullbackBuy_VWAP|buy has NEVER been graded in this book (scorecard bias 0, no actionable cells), and the model's own central path is flat (+0.27%/+0.90%/+1.05% at 1/4/12wk) -- the trade is carried by the 2.5:1 structure, not by a projected move. GTC expires 2026-08-11 (anchor + 3 sessions); withdraw earlier if conviction falls below 65. US Non-Farm Payrolls lands on the 08-07 open -- a below-market limit is the correct instrument into a two-sided macro print, since a gap up simply leaves it unfilled. WebFetch unavailable this run, so the news pass was search-only. · news

decided @ 48.65 · stop 47.47 · t1w 48.78 · t4w 49.09 · t12w 49.16

Standard Chartered breaks to a fresh 52-week high on rising conviction (WATCH cv64 -> STRONG BUY cv90, Buy_Rank 1, RSI 66.9) — the first clean actionable buy the book has printed since inception, and it fires every leg of the 07-15 re-arm we set for it: cv>=65, actionable buy family, NON-inverted 12wk (Est_12W/Target_12Week 228.87 = +0.9% vs close 226.80), non-extended entry (buy-stop +0.34 ATR). Queued as a buy-stop at 228.63 so it fills only if the breakout confirms above the 226.80 close — self-limiting, no chase. Valuation blind (NA_CCY cross-currency -> val_adj 0, quality gate off); news neutral (constructive wealth-pivot strategy, no fresh catalyst). Sized 0.904 Portion x 2.0M x 20% buy_pct = 361.6k -> ( of 50) ~HK, ~17.7% of book; chandelier trail stop 214.98 (~6% risk). Execute next open 2026-07-17 (L8); reprice if the open gaps >1.5%. CAUTION: the model's own Est_1W 226.85 and Est_4W 225.15 sit BELOW the entry (low-quality-entry flag, carried 07-15) — mitigated by the stop-entry design and cv90; watch once filled. Target_Price 255.94 is a stretch breakout objective far above Est_4W. · news

decided @ 228.63 · stop 214.98 · t1w 226.85 · t4w 225.15 · t12w 228.87