DEEP — no new capital deployed; hold the 5-name book

Tape: S&P +0.12%, Nasdaq -0.27%, Russell 2000 +2.12%. Small-cap/cyclical rotation still leading (L006 regime); oil sliding on U.S.-Iran de-escalation; hawkish-Warsh Fed.

Candidates screened (all fresh Buy-rated catalysts of the day):

• COP $108.83 (Roth Buy, PT $130) & APA $33.40 (Roth Buy, PT $38) — upgrades clean, but oil is FALLING today on Iran talks; buying energy the day its catalyst cuts against it fights the tape. Pass.
• BYD $86.53 (Benchmark Buy init, PT $100) — fits cap, [path]15% under PT, but +2.2% ≈ Russell +2.12% = rotation BETA not idiosyncratic (L006), and it's the buy-rated-below-PT template already cloned across CMG/CROX/EMBJ/KTB with NO second signal (L004). Stacking more of the factor my book is saturated with. Pass.
• EL $83.82 (Goldman Buy reinstated, PT $100) — RED -1.2% on a flat tape = negative relative strength, inverse of L003. Pass.
• BWXT $208.95 — above the $200 per-trade cap (L001, don't force). Pass.
• RGNX $8.11 — spec biotech bounce on one FDA-refile headline; QURE already covers gene-therapy. Pass.

Position theses (DEEP refresh, no flags): CMG +7.7% (peak +13.3%, trailing $31.46 — close but not hit; rel-strength/below-$35-PT thesis intact), CROX +3.7%, EMBJ +6.4% (peak +11.1%, trailing $60.08), FRVO +9.8% today making a new high (small-cap IPO ripping), QURE -0.9% (FDA AMT-130 BLA-Q3 thesis intact; add-trigger still unmet — price fading inside the $46-48 base, breakout not confirmed). None thesis-broken.

Decision: Deploy nothing. The only fresh catalysts either fight today's tape (energy/oil) or are pure rotation-beta template clones (BYD) with no second signal — exactly the L004/L006 trap. Hold the book; carry the [path]$366 deployable dry powder. Daily headroom untouched ($500).

DEEP — 2026-06-22 [path]10:21 ET — HOLD the 5-name book (no new buys, no exits)

Action: nothing on purpose. Second DEEP of the day; the 09:46 brief already concluded HOLD and 35 minutes changed nothing material. Zero exit flags, no thesis broken, no new candidate clears the discipline gates.

Tape: firmed to risk-on since the open — movers report decisive risk-on breadth led by semis + satellite tech. Reads as a continuation/intensification of the L006 small-cap/cyclical rotation regime, not a new factor. My book is already saturated with that beta, so stacking more of it is exactly what L006 warns against.

Candidates screened — all FAIL discipline:

• COP $108 (Roth Buy, PT $130) / APA $33 (Roth Buy, PT $38): clean upgrades, but oil's macro catalyst (US–Iran de-escalation, crude sliding) works against energy today. Buying the day the catalyst fights you — pass.
• BWXT $209: above the $200 per-trade cap (L001 — don't force exposure).
• BYD / EL: same 'buy-rated-below-PT' template already cloned 4× across the book with no 2nd independent signal (L004). EL is also RED on a green tape = negative relative strength (inverse L003). Pass.
• CAST +58% / BFLY +51% / LNKS +65%: speculative low-float pumps on single press releases — the 'affordable ≠ best idea' trap (L001). Not disciplined entries.

Positions (all green ex-QURE, none thesis-broken):

• FRVO +15.3% (peak +18.8%, trailing stop $37.91) — top performer, letting it run.
• EMBJ +7.1% (peak +11.1%, trailing $60.08), CMG +6.7% (peak +13.3%, trailing $31.46), CROX +3.0% (trailing off).
• QURE -1.8%: add-trigger STILL unmet — price $46.18 basing BELOW the $47–48 base, no clean breakout. 2nd-analyst (Cantor OW $61) fired but price-action has not. Per L005, conflict = do nothing. No FDA setback → no trim.

Cash: $565.94 buying power, $0 deployed today, $500 headroom — but the disciplined move is to keep the dry powder, not deploy into a saturated factor or a chart that hasn't confirmed.

FAST tick — one mandatory exit (CMG trailing stop), four holds

Action: SOLD CMG 4 @ $31.34 (order 6a394714, filled 14:31:20Z, $0 fees). Mandatory ratcheting trailing profit-stop: CMG hit a +13.34% lifetime peak which locked a +6.67% trailing stop; price drifted back to +6.29% and tripped the trailing_stop flag in the tick report. This is a hard, non-discretionary exit — not a judgment call. Realized [path]+6.27% ([path]$7.40 on a [path]$118 starter). The JPMorgan Neutral→Overweight valuation-reset / idiosyncratic-SSS thesis played out cleanly; the rule did its job — protecting a locked gain rather than round-tripping a +13% move back to flat. No CMG-specific bad news drove it; pure mechanical profit-protection. Freed [path]$125 to cash (buying power now [path]$566 ex-this-sale at capture; settles up after).

Held, all theses intact, none flagged:

• CROX +2.89% (peak +5.86%, trailing OFF) — Baird Outperform/PT $150 NA-recovery/HEYDUDE turnaround; far from -10% stop ([path]$109.94). Hold the 1-share starter.
• EMBJ +7.15% (peak +11.07%, trailing ACTIVE +5.53%/[path]$60.08, price [path]$61) — Scotiabank Sector Outperform/PT $81 aero, widest valuation-gate margin in the book. Stop now protects the gain. Hold.
• FRVO +13.65% (peak +18.83%, trailing ACTIVE +9.42%/[path]$37.91, price [path]$39.38) — book's best; multi-bank geothermal/AI-power initiation ($47-51 PT cluster), still well below targets. Let it run under the trailing stop. Hold.
• QURE -2.13% (peak +0.62%, trailing OFF) — AMT-130 FDA accelerated-approval reversal + Barclays OW PT $65; minor drift, no FDA setback/base-break. Hold the tiny 1-share starter.

Lessons in play: L005 (don't pre-position around binaries) and L004 (don't mistake a repeated template for multiple convictions) both argue for doing nothing beyond the forced exit on a FAST tick — no new buys here; new capital deployment is a DEEP-tick decision. Discipline: took the mechanical exit, left the intact book alone, kept dry powder ([path]$566 BP, $500 daily headroom untouched).

DEEP — sold FRVO on its trailing stop, then passed on every new buy. The tape was risk-off (S&P into the red, Big Tech + SpaceX sliding a third day, 2-year yield at its highest since Feb 2025, commentators flagging short-term cracks).

Action taken: 1 mandatory exit.

• FRVO SELL 1 @ $37.5101 — trailing profit-stop fired. Lifetime peak +18.83% faded to +9.24%, hitting the locked +9.42% ratcheting stop ($37.91). Realized [path]+8.25% ([path]+$2.86) on the 1-share geothermal/AI-power IPO starter. NOT a thesis break (Cape Station ramp + Google [path]3GW framework intact) — the trailing stop doing its job, locking [path]half a 19% peak on a high-beta IPO that rolled over on no news. Stays on watch for a binding hyperscaler contract / first-power milestone.

New buys: NONE — deliberately. Researched every loud catalyst today; not one cleared my own gates:

• APGE +47% (AbbVie buyout), ACA +7% (CRH $150 all-cash) — takeout pops, deal-priced. No edge buying at the bid.
• MU +4% into earnings this week — semis bellwether printing a scheduled binary. L005: carry powder INTO the event, do not pre-position. Also $1,192/share — one share blows the $200 cap anyway.
• IBM Buy upgrade — [path]$247/share, over the per-trade cap (L001).
• INTC $140 (+4.6%) — Apple foundry deal already drove a [path]10% pop; Mizuho's $135 PT is a NEUTRAL rating. Buying above a hold-rated target into a pop is the exact Day-2 Macy's chase L003 exists to stop. PASS.
• SN (SharkNinja) Piper OW $150 vs [path]$118 — the only below-target buy-rated name, but it's an early-June (stale) call, overlaps my consumer sleeve (CROX), and a same-template clone into a cracking tape is what L004 warns against. Not compelling enough to force.

Book after: CROX +2.4%, EMBJ +7.1% (trailing stop $60.08), QURE -2.1% (thesis intact, [path]25% below Cantor OW $61, BLA targeted Q3 2026). All re-justified; no other exit flags.

The call: do nothing on purpose. [path]$603 buying power stays dry into MU's print and a risk-off tape (L001/L003/L005). Booking an +8% winner and refusing to chase is the highest-EV move today.

DEEP tick — 2026-06-22 (11:38 ET)

Tape: Mixed-to-red under a hawkish Warsh Fed (pared statement, members flag a 2026 hike); 2yr Treasury yield highest since Feb 2025. S&P/Nasdaq slightly red, Russell -0.1%. Semis (MU/INTC +5-8%) the lone risk-on pocket; SpaceX -9% post-IPO. Account equity $1,023.63, BP $565.94, daily headroom $500.

Signals gathered: CNBC RSS (macro/markets/earnings, [path]360 rows) + WebSearch over trending/movers/upgrades. HackerNews and Yahoo per-ticker RSS both returned nothing (Yahoo ticker endpoint 404ing all symbols today). Brief persisted to logs/research/.

Held book (all theses intact, no exit flags):

• CROX $125.72 (+2.9%), peak +5.86%, trailing off — hold.
• EMBJ $61.37 (+7.8%), peak +11.07%, trailing ACTIVE +5.53% ($60.08) — let the winner run.
• QURE $46.36 (-1.5%) — hold; see below.

QURE — considered adding, declined. The 06-22 "seek FDA approval" headline is a recap of the 06-17 FDA U-turn already in my entry thesis (drove the +78% pop). My own add-condition is NOT met: price is below the $47-48 base, flat, no breakout, no second independent analyst initiation. Disciplined hold.

Pumps passed. FreeCast (CAST) +130% / Butterfly (BFLY) +51% — parabolic, no valuation gate (fails L003). No chase.

Semis passed. MU/INTC strength is the day factor pocket (semiconductor beta leading the tape) — buying it would be style-box beta, not idiosyncratic alpha (L006), and L002 already burned me on the AI-cycle via HPE. No clean idiosyncratic setup below a fresh buy-rated PT. Pass.

ACTION — opened KMX starter (2 sh @ $52.83, [path]$106). CarMax Q1 FY27 blowout: EPS $1.31 vs $0.96 ([path]36% beat), rev $8.01B vs $7.39B, units +3.3%, CAF growth, SG&A/unit -6.8% under new CEO Keith Barr four-pillar turnaround. Fresh upgrade wave: Stephens UPGRADED to Overweight $66, Baird Outperform $55, 8+ PT raises. Entry [path]20% below the $66 PT (L003 gate) and decorrelated from my book (auto retail, L002-safe). Clears L004: a second independent signal beyond the analyst note (the fundamental beat + the +12% price-action recoup), bought on today -1.8% consolidation, not chasing. Kept to a STARTER per clone discipline (L004) and dry-powder-into-chop (L005).

Execution note: first KMX order ($52.72 GFD limit) drifted below a rising market and was cancelled unfilled (0 deployed, log marked cancelled); re-priced to a $52.85 marketable limit which filled at $52.8299. Deployed today: [path]$106 of $500 headroom.

DEEP tick — 2026-06-22 (12:15 ET, 2nd DEEP of session)

Tape: Hawkish-Fed risk-off. S&P 500 ran out of steam into the red; Big Tech/SpaceX struggling. BofA now expects three Fed hikes this year and calls inflation "unambiguously worse"; 2yr yields elevated. Account equity $1,023.41, BP $460.28, deployed-today $211.14 (headroom $288.86).

Signals: CNBC RSS (macro/markets/earnings, 360 rows) + HackerNews + WebSearch over movers/upgrades. Yahoo per-ticker news endpoint still 404ing all symbols. Brief persisted to logs/research/20260622T161713-signals.md.

Held book — all theses intact, no exit flags:

• CROX +3.50% ($126.44), peak +5.86%, trailing off — Baird OP $150 NA/HEYDUDE turnaround. Hold.
• EMBJ +7.41% ($61.15), peak +11.07%, trailing ACTIVE +5.53% ($60.08) — price comfortably above the lock; Scotiabank SO $81 aero/defense. Let the winner run.
• QURE -2.05% ($46.09), peak +0.62%, trailing off — FDA Type-B AMT-130 BLA-path intact, far above the -10% stop.
• KMX -0.22% ($52.72), peak -0.22%, trailing off — Q1 FY27 beat + Stephens OW $66 turnaround. 2-share starter.

No new position — disciplined hold. Scanned candidates; none cleared the gates:

• NVDA / INTC / RKLB / META / HOOD — the day semis/megacap upgrade pocket = style-box beta, not idiosyncratic alpha (L006), and the cap puts the on-theme leaders out of reach anyway (L001). Pass.
• ABBV — up on its OWN $10.9B all-cash Apogee acquisition; buying the acquirer paying a premium is no momentum gate, and it sits at the per-trade cap. Pass.
• Baldwin Insurance (JPM->Overweight $28) — a clean fresh-upgrade-below-new-PT setup, but it is the 5th clone of the exact template I am already 4-deep in, with NO second independent signal (L004). Pass.
• QURE add — re-evaluated, still NOT triggered: below the $47-48 base, no breakout, no new 2nd analyst; the 06-22 FDA headline is a recap of the 06-17 catalyst already owned. No add.

Rationale: Book is thesis-intact and decorrelated (footwear / aero-defense / gene-therapy / auto-retail). Into a hawkish red tape, carrying dry powder beats forcing a clone or chasing the day beta (L005). Nothing was the highest-EV move; held everything, deployed $0 this tick.

DEEP tick — no new position (do nothing on purpose)

Signals gathered: CNBC/Reuters RSS (macro/markets/earnings) + HN + WebSearch (movers, Fed, KMX/QURE catalysts, under-$100 upgrades). Brief: logs/research/20260622T165446-signals.md.

Tape: Risk-off, hawkish. S&P -0.35%, Nasdaq-100 falling; the downside is megacap/AI-led (Alphabet -7% worst day in a year, Moderna -9.5%; Dan Niles trimming hyperscalers/chips). Fed (06-17) held 3.50-3.75% but the dot plot flipped to a hike — median PCE up to 3.6%, 17/18 see inflation risk to the upside; BofA expects three hikes. Energy-driven (Hormuz), though a tentative reopening deal is easing oil. Scheduled binaries this week: Micron earnings Wed + inflation data.

Book (all thesis-intact, no exit flags):

• CROX +3.29% (peak +5.86%, trailing off) — hold.
• EMBJ +7.66% (peak +11.07%, trailing ARMED +5.53%/$60.08) — let the trailing stop work; credit factor beta (L006).
• QURE -2.81% (peak +0.62%) — add-trigger UNMET (price below $47-48 base, no breakout; 06-22 headline is a recap of the owned 06-17 FDA reversal). Hold the 1-sh clinical starter.
• KMX +0.70% (peak +0.70%) — add-trigger UNMET (basing, no breakout; the upgrade wave is the SAME catalyst already owned, not a 2nd independent signal). Hold the 2-sh starter.

Why no new buy:

• New green is concentrated in AI/semis (SMCI +14.7%, SanDisk, UMC) — L001/L002 cycle traps the tape is actively de-rating today.
• Definium +55% is a momentum-chase; CAT/AVGO/NVDA are unaffordable under the $200 cap (L001).
• The lone affordable buy-rated upgrade, IART (Argus->Buy $25), is a single-signal L004 clone with no 2nd confirmation and no ticker memory — doesn't clear entry discipline.
• L005: on a hawkish risk-off tape into Micron + CPI, carry dry powder INTO the events; do not force a clone/affordability trade the day before.

Capital: deployed_today $211.14, daily_headroom $288.86, buying_power $460.28 (cash buffer $200 preserved). Nothing deployed this tick — headroom and dry powder kept intact by design.

DEEP tick — refreshed signals 35 min after the morning sweep; conclusion unchanged: NO new position, HOLD all four.

Tape: still hawkish risk-off. S&P -0.35%, megacap/AI de-rating leads (GOOGL -7%, MRNA -9.5%); green is concentrated in AI-semi (SMCI/UMC +15%) and a biotech momentum spike (DFNM +55%). Into Micron earnings Wed + inflation data — L005: carry dry powder into scheduled binaries, do not pre-position.

Holdings (all thesis-intact, zero exit flags):

• CROX 1 @ $122.16 → $124.86, +2.21% (peak +5.86%, trailing off). Baird Outperform turnaround ($150 PT) intact.
• EMBJ 2 @ $56.93 → $61.23, +7.55% (peak +11.07%, trailing ACTIVE +5.53%/$60.08 — price well above). Scotiabank $81 PT aero/defense intact.
• QURE 1 @ $47.05 → $45.22, -3.89% (peak +0.62%, trailing off, hard stop [path]$42.35). AMT-130 BLA thesis intact; breakout add-trigger >$47-48 base UNMET.
• KMX 2 @ $52.83 → $53.19, +0.68% (peak +1.02%). Q1 FY27 beat + upgrade wave intact; same catalyst already owned, no fresh breakout.

New candidates rejected: STVN/ELAN/IART/PECO are single-analyst buy-rated mid-cap upgrades — textbook L004 clones with no 2nd independent signal. Movers are AI-semi cycle (L001/L002 traps), a +55% momentum chase, or unaffordable (CAT). None clears the bar on a risk-off tape into binaries.

deployed_today $211.14, daily_headroom $288.86. Highest-EV move is to do nothing on purpose and carry the headroom into the events (L005). Brief: logs/research/20260622T172959-signals.md

DEEP tick (2nd-half DEEP, [path]14:07 ET) — fresh sweep, conclusion unchanged: NO new position, HOLD all four. Deployed $211.14 today, $288.86 headroom left UNUSED on purpose.

Tape: risk-off / hawkish. S&P -0.35% (breadth split: 299/503 advancing but megacap/AI lead DOWN — GOOGL -7% worst day in a year, MRNA -9.5%). BofA now expects 3 Fed hikes this year, calls inflation "unambiguously worse"; Warsh Fed reads hawkish. Green is concentrated in (a) biotech momentum spikes — GETY +106%, DFNM +55%, APGE +47% on AbbVie's $10.9B M&A — and (b) AI-semi (SMCI +15%, UMC +15%). Gold crashing (AGI -14%, GFI -10%). Scheduled binaries THIS WEEK: Micron (MU) earnings Wed + inflation data. Per L005, carry dry powder into the events, do not pre-position.

Holdings — all thesis-intact, zero exit flags:

• CROX 1 @ $122.16 -> $124.76, +2.13% (peak +5.86%, trailing off). Baird Outperform turnaround ($150 PT) intact. HOLD.
• EMBJ 2 @ $56.93 -> $60.96, +7.08% (peak +11.07%, trailing ACTIVE +5.53%/$60.08 — price above the profit-stop). Scotiabank SO aero/defense ($81 PT) intact; Hormuz tensions + GM-Lockheed defense partnership reinforce the factor. Trailing stop guards the gain. HOLD.
• QURE 1 @ $47.05 -> $45.21, -3.91% (peak +0.62%, trailing off, hard stop [path]$42.35). AMT-130 BLA thesis (FDA Type-B U-turn, Q3-26) intact; today's recirculated CNBC FDA headline is a recap of the owned 06-17 catalyst, not new info. Still basing below the $47-48 base -> breakout add-trigger UNMET. HOLD the tiny clinical starter, no add.
• KMX 2 @ $52.83 -> $53.495, +1.26% (peak +1.81%, trailing off). Q1 FY27 beat + Stephens OW $66 turnaround intact; no fresh second catalyst. HOLD.

New candidates rejected: today's movers are momentum biotech spikes (GETY/DFNM/APGE — chases, not theses), AI-semi cycle names (L001/L002 traps; mostly unaffordable inside the $200 cap), or crashing gold. Trending tickers (MU/INTC/SPCX/megacaps) are either the Wed earnings binary itself (L005), a 10x-promise narrative (INTC), or names falling. Nothing offers an affordable, idiosyncratic, second-signal-confirmed entry with relative strength against this tape (L003).

Decision: the highest-EV move is to do nothing on purpose — hold the four intact theses and carry the $288.86 headroom into Wednesday's Micron print + inflation data (L005). Brief: logs/research/20260622T180739-signals.md

DEEP — 2026-06-22 [path]14:43 ET (3rd+ DEEP of the day)

Action: NO new trade. Hold the 4-position book; keep $288.86 daily headroom dry.

Signal sweep

• RSS (macro/markets/earnings) + HackerNews pulled (360 RSS + 40 HN docs); brief written to logs/research/20260622T184327-signals.md. Cashtag auto-extraction thin (headlines lack $tags) so this is a judgment-led read.
• WebSearch confirmed the tape: factor ROTATION, not a tech crash. Dow +0.4%, S&P -0.3%, Nasdaq -1.1% (Alphabet -10% on AI-capex fears), but Russell 2000 +2.12% with cyclicals/industrials leading (CAT +2.5%, Amgen, even NVDA/Micron green on the chip sleeve). Driver: optimism on US-Iran peace talks re-opening Middle East energy supply; earlier Hormuz-closure scare faded.

Why no new capital

1. L006 (rotation, not skill). My green names today — EMBJ +7.5% (aero cyclical), KMX (auto retail), CROX (consumer disc) — sit squarely in the winning style box. That is factor beta, not fresh idiosyncratic alpha; adding into the rotation pop is the exact L006 trap (and L004 — mistaking style beta for new convictions).
2. L005 (dry powder into binaries). Micron earnings Wed is a scheduled binary that will reprice the whole chip/AI complex and ripple to risk appetite. The edge is carrying cash INTO it, not spending it the day before.
3. L003 / no idiosyncratic setup. No affordable name showed idiosyncratic relative strength against the tape with a fresh buy-rated catalyst and a valuation gate. The loud movers are either mega-cap AI (in the selloff and over the whole-share cap — L001) or YTD penny-momentum garbage (NINE/STAK) — uninvestable.

Held-name refresh (all theses intact, no exit flags)

• EMBJ +7.52% (peak +11.07%): trailing stop ACTIVE at +5.53% ($60.08); the ratchet now manages this winner. Hold, no add.
• KMX +0.85% (peak +1.81%): Q1 FY27 beat + Stephens OW $66 turnaround intact; add-trigger (breakout + 2nd independent signal) still unmet. Hold.
• CROX +1.71% (peak +5.86%): consumer-disc, thesis intact, no fresh catalyst. Hold.
• QURE -4.40% (peak +0.62%): RED on a small-cap-up day = relative weakness (inverse L003); 06-22 FDA headline is a recap of the owned 06-17 Type-B U-turn. Add-trigger unmet, price below the $47-48 base; thesis intact (Q3-26 BLA path), no setback. Hold the tiny clinical starter.

Deployed today $211.14; headroom $288.86 preserved. No guardrail actions; no orders placed this tick.

DEEP — 2026-06-22 (afternoon)

Action: HOLD all four, deploy ZERO new capital. No exits (no flags). No adds.

Tape

Risk-off and hawkish. S&P -0.35% with mega-cap/AI de-rating leading down (Alphabet -7%, Moderna -9.5%); Nasdaq-100 quarterly rebalance churn. BofA now flags three Fed hikes this year and calls inflation "unambiguously worse"; Iran/Strait-of-Hormuz closure adds an oil/geopolitical tail; Micron earnings Wednesday is a looming chip-sector binary. Biotech M&A is hot (AbbVie buying Apogee [path]$10.9B) but that is a closed, expensive event, not a tradeable entry for me.

Book review (all theses intact)

• KMX 2sh @52.83 → $52.96 (+0.25%, peak +1.81%). Earnings-turnaround thesis I entered today on the +12% post-print run + upgrade wave (Stephens OW $66). Today it merely consolidates that move — no NEW second catalyst — so the add-trigger is unmet. Hold.
• EMBJ 2sh @56.93 → $61.17 (+7.45%, peak +11.07%). Trailing profit-stop now active at +5.53% / $60.08; winner left to run. No EMBJ-specific news. Won't chase my own winner in a risk-off tape. Hold.
• CROX 1sh @122.16 → $124.06 (+1.55%). Baird turnaround intact, no fresh catalyst. Hold.
• QURE 1sh @47.05 → $44.35 (-5.75%). FDA Type-B reversal thesis intact, no setback; tiny clinical starter still well above its -10% stop, basing below entry. Hold.

Why no new trade (the discipline)

1. L005 — carry dry powder into a known-uncertainty window (hawkish-Fed repricing + Micron Wed). Doing nothing on purpose is the highest-EV move when the tape is hostile.
2. L004 — my entire book is the same template (fresh buy-rated analyst catalyst below a new PT). A fifth clone today is one bet stacked higher, not a new conviction. No candidate today carried an independent second signal at an affordable whole-share price.
3. I already repositioned today (sold CMG + FRVO, rotated into KMX). The book is freshly set; forcing more is the L001 affordability-masquerading-as-conviction trap.

Headroom unused: $288.86 daily / $460.28 buying power preserved as dry powder.

DEEP tick (15:56 ET) — full signal sweep, no new position. Carrying dry powder into the binaries.

Sweep. RSS macro/markets/earnings (CNBC, 360 docs) + HN + WebSearch over QUERIES. Brief: logs/research/20260622T195904-signals.md. No $CASHTAGs in RSS/HN, so no auto-extracted ticker table — ranking done by hand below.

Tape — risk-off. AI mega-cap selling (Alphabet worst day in a year on AI concerns/exits, Nvidia weak, Apple a rare green outlier); SpaceX -15% post-IPO; S&P [path]-0.35%. Macro overhangs stacking: Strait of Hormuz declared closed again (oil/shipping shock); BofA flags 3 Fed hikes + inflation "unambiguously worse"; Kalshi >50% odds of a 2026 hike. Scheduled binary ahead: Micron earnings Wed + inflation data.

Candidate ranking.

• GLW (Corning) — the one known-ticker catalyst: +4.3% on a Truist PT raise (AI optical/datacenter fiber). PASS. It is a PT bump not a rating change, the AI-capex tape is actively de-rating (L002 cycle-bellwether risk that broke HPE), and buying an AI name up +4% on a Monday catalyst already partly priced is the L004 buy-rated-below-PT template clone — not idiosyncratic relative strength. Re-arm bar (pullback to [path]$170s w/ stable AI tape OR a real RATING upgrade) unmet.
• Meme/trending (SLS +25%, FCEL, NBIS, EOSE, AUR) — speculative momentum outside my thesis discipline. PASS.

Held names. No exit flags. QURE got a confirming headline (UniQure to seek FDA approval for Huntington gene therapy = the 06-17 Type-B reversal already in thesis) but price slipped below its $47-48 base (-5.93%) so the add-trigger stays unmet — hold the 1-share starter, no add. KMX beat earnings but fell — thesis intact, no add. CROX/EMBJ unchanged theses; EMBJ trailing active at $60.08, [path]1.5% above trigger.

Decision: do nothing on purpose. Deployed $211 today across 4 same-template starters (L004 = one bet, not four). Highest-EV move is to carry the [path]$260 of deployable dry powder INTO the Micron print + the oil shock, not spend it the afternoon before (L005). Ticker memories refreshed for QURE (held) and GLW (watch/pass).