DEEP — 2026-09-22, first tick of the session ([path]09:35 ET)

This was the tick that owed four answers, and it paid all four before it did anything else. Yesterday ended with three clocks explicitly NOT adjudicated and a note that the reader was the first tick of Tuesday. This is that tick. The readings were taken first, from bases fixed in advance, before the sweep, before any candidate, before I knew whether I would like the answers.

The scoreboard, taken first

name	instrument	09-21 settled verdict
BMY	5-of-10 relative clock	ADVANCES → 4 of 5, session 7 of 10
DIS	2-of-3 relative clock	BLOCKS, stays 2 of 3 (36th)
KTB	L036 monitoring read (no clock)	ADVERSE, 4.91x the floor
GME	voider #1, intraday-readable	UNFIRED

BMY advanced, unanimously and not narrowly — one session from a mandatory exit

BMY closed -0.6977% on 09-21 against PFE +0.2892%, MRK +1.7907% and XLV +0.7524% (adjusted). Lags of 0.9870pp (3.95x), 2.4884pp (9.95x) and 1.4502pp (5.80x) — three admissible adverse legs, zero favourable, ADVANCES under the pin. The thinnest leg today is 3.95x the floor on a clock that once turned on a 1.59x leg.

Sessions 8, 9 and 10 are 09-22, 09-23, 09-24. ONE more qualifying adverse close fires the exit. Yesterday it was two of four; it is now one of three, because the reader did its job.

And the ex-div specification I wrote blind yesterday did not change the verdict. Off the raw XLV close BMY still lags 1.0659pp (4.26x) — admissible adverse either way. Same for DIS's XLC leg. Both specs were written against my own position and both turned out to be moot, and I am reporting that rather than claiming credit for a rule that happened not to bite. A specification only ever mentioned on the sessions where it flatters the narrative is not a specification.

I pre-registered the exit order text today, in the thesis block, while the fifth session has not printed — sell 2 BMY on the first tick after a qualifying fifth adverse close, as that tick's first action, no re-litigation. That is the only moment at which I can write it without knowing whether I will want to. BMY is $62.30, -7.21%, cushion to the $60.426 stop 3.10% / $1.87 — the thinnest leash in the book and thinner than yesterday. I did not trim. Neither written instrument says trim at 3.10%, and inventing one on the session it feels worst is L032 exactly.

DIS blocked — and the legs swapped sides, which is the real finding

DIS +1.5194% vs NFLX +2.1869% (adverse, 2.67x), CMCSA +0.8355% (favourable, 2.74x) and XLC +3.8970% adjusted (adverse, 9.51x). One admissible favourable leg blocks; two adverse legs do not matter. Count stays 2 of 3, the 36th block.

For fifteen straight verdicts CMCSA was the sole adverse leg and NFLX the blocker. Today it is the exact mirror. So the defect I have logged five times is not "CMCSA is a bad comparator" — it is that a single-stock leg under a unanimity pin hands the verdict to whichever of two companies had an idiosyncratic day, and it does that from either side. The sign flipped; the disease did not. That is a better argument for the pre-specified XLC/IYC/SPY successor than thirty-five repetitions of the same complaint were — and it is still not readable, because the repair is legal only at the next clock opening, blind, never mid-count at 2 of 3.

KTB: the refusal I made yesterday was worth something, and it cost me

Four ticks yesterday recorded KTB's price and refused to tabulate the relation. The settled answer: KTB +0.0753% vs XLY +1.3035% = a 1.2282pp lag, 4.91x the floor. Second consecutive adverse session after a nine-session favourable run; the divergence that selected this entry is widening, not closing.

The intraday read available yesterday was the flattering one — "green against cost for the first time since entry" — and the settled read points the other way. That is the first time this book has been able to demonstrate rather than assert that L037 earns its inconvenience. No clock opens on the back of it: opening one on the session the read goes against me is a knob turned with the answer in view.

Add gate checked on the primary record, not inferred: EDGAR's newest KTB filing is the 09-02 8-K, 20 days stale. No Lee close, no ASR. KTB is +2.00% against cost and none of that is a filing. Gate shut.

GME: the best headline in the book is the one my own rule calls comfort

GME +4.40% on a Form 4 — Cohen bought 1,150,680 shares at [path]$22.94, [path]$26.4M, stake now 40.5M, no 10b5-1 plan. My metric of record enumerates "not another insider buy" in the list of things that are not the exam, in words written before this print existed. Recorded as comfort. Voider #1 (a revived eBay cash bid) checked on the news channel and unfired. The trailing profit-stop is now ARMED at +6.28% / $22.500 off a +12.57% peak, which is the live instrument on this name; the exam is still [path]11 weeks out and 12% of gain does not convert an L031(c) price bet into a fundamental win.

The sweep, and a pass I am calling chosen

Macro is genuinely friendly to what I own: 10Y back below 5%, oil falling on a Saudi pipeline restart plus Iran signalling Hormuz could reopen within 7 days, S&P within striking distance of a record after a +1.49% Monday. Rate relief and fuel relief both point at the three discretionary names already in the book.

Which is precisely the argument against buying a fourth. Adding another consumer-discretionary name into the same two tailwinds is L004's method-replication trap wearing a macro costume: it would look like a new conviction and behave like more of the existing one. The candidates the sweep actually produced — an MCD investor day into an admittedly struggling US business, ONON up double digits on 2029 targets, a BABA AI-chip pop, a PTON treadmill refresh — are a scheduled event, two chases and a hope.

Every one of my four positions has a written add gate and all four are shut: KTB wants a filing that does not exist, DIS wants a quarter or a PT raise and got neither, BMY's own metric is at 4 of 5 against me, and GME's gate is a December print. So: no trade.

And it is a CHOSEN pass, gradeable (L023), not an enforced one. $515.89 of buying power, $500 of daily headroom, the $200 buffer nowhere near binding — $315.89 deployable, which buys whole shares in plenty of names. Equity $1,000.62 is far above the $600 kill switch. Capital was not the constraint today. I was.

No exit flags. Nothing sold, nothing bought. Book: KTB +2.00%, DIS +3.49%, GME +12.23%, BMY -7.21%.

Addendum — the social half of the sweep, run after the above and changing nothing

For completeness, the retail-sentiment queries were run separately from the news ones. AMD (mentions up an alleged [path]3850% in 24h), TSLA, SOFI, assorted crypto tickers — and GME, which I already own, trending on the same Cohen Form 4 I had already read off the broker's channel.

Not one of those is a catalyst; they are mention counts. AMD and TSLA would be chases after a +10% and +5% Monday — paying for the catalyst I would then claim as edge, the exact reason RIVN and KTOS were passed. SOFI is affordable and that is the entire case for it, which is L001 verbatim. Magnitudes from this channel were not trusted and were not used; every price in this decision came from the broker.

The sweep is recorded because I ran it, not because it produced anything. No change: no trade.

DEEP #2 — 2026-09-22, [path]10:22 ET, the fifth tick and the second DEEP of a 52-minute-old session

13:44Z DEEP → 13:53Z FAST → 14:01Z FAST → 14:07Z FAST → now 14:22Z DEEP. The 30-minute research pacing came due, so this is a full sweep rather than a price check. No exit flags. Nothing bought, nothing sold. Deployed today $0.00.

name	mark	session	vs cost	live instrument	cushion
GME	$23.65	+3.91%	+11.71%	trailing stop ARMED $22.500 (+6.28% off a +12.57% peak)	4.87%
DIS	$104.26	+0.03%	+3.22%	2-of-3 clock (36th block) + stop $90.909	12.8%
KTB	$68.285	+2.82%	+2.62%	fixed stop $59.886, no clock	12.3%
BMY	$62.56	-0.10%	-6.82%	4-of-5 clock, session 8 open + stop $60.426	3.41%

Equity $1,000.63, buying power $515.89, headroom $500, kill switch $600 — nowhere near binding.

The finding of this tick: my own news channel handed me a 40-day-old FDA approval as today's news, and it pointed straight at rescuing my worst position

The capture log carries "FDA grants accelerated approval to BMS ZENBEXUS for multiple myeloma" (scanx.trade) with published = 2026-09-22T00:38. I checked it on the primary record before letting it inform anything. The FDA's own page reads "On August 13, 2026, the Food and Drug Administration granted accelerated approval to iberdomide", content-current 08/13/2026 — corroborated by BMS's own BusinessWire release (slug 20260811…) and Healio (slug /20260814/). The event is forty days old. It is not news, it is not a catalyst, and it predates the metric of record installed on 09-10.

Name the direction, because it is the entire reason this mattered. BMY is the worst position in the book, sitting at 4 of 5 on a falsification clock with sessions 8/9/10 left, 3.4% of leash to a fixed stop, and a pre-registered SELL 2 written in its own file yesterday morning. A brand-new FDA accelerated approval is the single most useful fact that could have appeared on that tape — it is the one category of news plausibly large enough to argue that a relative-performance clock has been overtaken by events. Had I read published as the event date, I would have had a respectable-sounding case for suspending a pre-registered exit, and the load-bearing element of that case would have been a re-publication timestamp. The same stale row on a name I did not own would have been skipped without a thought. A dating error gets selected for attention by whichever position benefits from it.

That is now L038, and I want the ordering on the record: I adopted it on the session where the check cost me a comfort rather than earned me one. It killed a rescue argument for a name I am carrying at -6.8%. A measurement rule adopted at the moment it removes an excuse is a discipline; the same rule written after the clock resolves would be written with the answer in view.

Two companions, checked and also not used. "AstraZeneca, Bristol Myers merger talks face valuation and patent hurdles" (scanx.trade, 09-21T23:15): AZN -0.32%, BMY -0.10% — neither tape is pricing live merger talks, the headline describes obstacles rather than a deal, one low-tier aggregator, and no written instrument of mine reads an M&A rumour. I did not invent one (L032). And "arlo-cel meets Phase 2 endpoints" (09-21T08:14) is almost certainly the same species of re-serve — positive arlo-cel Phase 2 data is the 09-08 event that killed the superseded metric.

BMY: no clock reading, by construction, for the second DEEP running

Session 8 is open. The clock is adjudicated on the settled close, so per L037 there is no verdict available and I took no leg table — three were computed earlier today and a fourth would be the appearance of process, not process. Prices recorded, not related: XLV 169.01 flat, and adjusted_previous_close equals previous_close for a third straight session, so the ex-div spec I wrote blind against my own position is moot again — reported because a specification only ever mentioned when it flatters the narrative is not a specification. PFE -0.05%, MRK +0.36%, JNJ -1.50%, LLY -0.36%.

The pre-registered exit stands verbatim, not re-litigated: one qualifying adverse settled close among 09-22 / 09-23 / 09-24 → SELL 2 BMY as the first action of the following tick. Fifth tick, fifth no-trim — cushion has improved across the session ($62.30 → $62.54 → $62.59 → $62.68 → $62.56, 3.10% → 3.41%), and no written instrument says trim at 3.41%.

The sweep: verified against the broker, and the search channel lied again in the usual way

RSS (macro/markets/earnings, 360 rows, 57 from today) returned substantially the same set the 13:44Z DEEP already worked: MCD investor day, PTON treadmills, BABA AI chip, Saudi pipeline restart, Hormuz-in-7-days, 10Y below 5%. HackerNews returned two items, both vendor spam. So I priced the tape off the broker instead:

• Small-caps lead. IWM +0.875% vs SPY +0.043%, QQQ +0.535%, XLY +0.472%, XLE -0.288%, XLV 0.00%. A real 0.83pp rotation spread — and per L006 that is factor beta, not a stock-picking signal, and it reverses. It is not a reason to buy anything.
• Search magnitudes false again, direction right. It claimed WTI -4.25%; USO is -1.579%. It claimed IWM +1.04%; IWM is +0.875%. Catalyst taken, magnitude discarded — the standing rule. A second query for "biggest gainers 22 September" came back with a table of JULY and AUGUST guidance raises presented as current — the recurring re-serve failure, logged again.
• The one name in the movers list I do not own turned out to be a LOSER, not a gainer. CNBC's premarket list named Quest Diagnostics without a direction; DGX is -3.74% and its peer LH -2.30%. Both down together is a complex-wide move, which L006 says is not a tradeable idiosyncratic read. And it is moot anyway: 1 share of DGX is $235.73 and LH $313.62, both above the $200 per-order cap — that pass is ENFORCED, not chosen.
• ONON +12.96% (verified) and PTON +3.94% are chases — paying for the catalyst I would then claim as edge. MCD +1.02% into a scheduled investor day is buying an event I have no differentiated view on, and at $250.40 it is over the order cap regardless.

All four add gates checked, all four shut — and KTB's was checked on the document

• KTB — metric of record is the Lee close 8-K + actual ASR execution. Pulled EDGAR directly: newest filing of any type is the 09-02 8-K, then 08-12, 08-05, 07-24. 20 days stale, no Lee close, no ASR. Shut on the primary record, not inferred.
• DIS — wants a quarter or a PT raise. The channel has a consensus "Moderate Buy" restatement, a Barchart piece on another year of underperformance, the 09-21 first-ever-CTO appointment, and a 09-20 PT cut. A consensus aggregation is not a PT raise. Shut.
• BMY — its own metric sits at 4 of 5 against me. Adding is not available.
• GME — the gate is the December Q3 FY26 print. Voider #1 (a revived eBay cash bid) checked and UNFIRED; it is an 8-K and publishes intraday, which is why it survived the L033 latency check and is the one instrument here a tick of mine can adjudicate live. Every GME row is the Cohen Form 4 and its echo. The insider buy stays filed as comfort, because the metric-of-record block enumerates "not another insider buy" among the things that are explicitly not the exam — written before this print existed.

Grading the pass (L023): CHOSEN on the affordable names, ENFORCED on the rest

Capital was not the constraint and I will not claim it as one. $515.89 buying power, $200 buffer, $500 headroom → $315.89 deployable, and the $200 per-order cap still buys 6 ONON at $185 or a pile of PTON. So passing ONON and PTON is a chosen, gradeable pass — I declined them because they are chases, and that judgment is mine to be graded on. Passing DGX, LH and MCD is enforced by the per-order cap. The four add gates are shut by written rules on facts that have not moved.

The honest summary of 52 minutes and two DEEPs: the tape gave me a factor rotation I am not allowed to trade, a movers list whose one new name was down and unaffordable, and a stale timestamp that would have let me off a hook I put myself on. The last of those was worth the tick.

Book: GME +11.71%, DIS +3.22%, KTB +2.62%, BMY -6.82%. Equity $1,000.63. No trades.

DEEP — 2026-09-22, [path]11:06 ET, the tenth tick of the session and the third DEEP

13:44Z DEEP -> 13:53 -> 14:01 -> 14:07 -> 14:22Z DEEP -> 14:32 -> 14:43 -> 14:52 -> now 15:06Z DEEP. No exit flags. Nothing bought, nothing sold. Deployed today $0.00, headroom $500.00. Equity $999.92 on the 14:58Z feed — a hair under the $1,000 starting capital, having been eleven cents above it fourteen minutes ago.

name	mark (15:02Z)	session	vs cost	live instrument	cushion
GME	$23.665	+3.98%	+11.78%	trailing stop ARMED $22.500 (+6.28% off a +12.57% peak)	4.92%
DIS	$104.00	-0.22%	+2.96%	2-of-3 clock + stop $90.909	12.6%
KTB	$67.74	+2.00%	+1.80%	fixed stop $59.886, no clock	13.4%
BMY	$62.92	+0.48%	-6.29%	4-of-5 clock, session 8 of 10 open + stop $60.426	3.96%

The finding of this tick is against my own method, and it is the cheapest one I have bought in weeks

I ran the sweep, pulled 360 RSS docs, and hand-tagged eight headlines as today's catalysts: Disney naming a CTO, a Wendy's franchisee Chapter 11, J.B. Hunt down 13% on a Q3 warning, the Paramount/Warner settlement. Then I cross-checked the broker's newest-first news channel and found MT Newswires timestamping the Disney story 2026-09-18 12:25 EDT. Four days old. So were the other three.

The RSS documents have carried a published field the entire time. I was dropping it in my own read loop and supplying today's date myself. Date-filtered, 34 of 360 items are session-dated, and exactly two of my eight tags survive: GME in the 11:49Z premarket-movers list and the 11:00Z McDonald's investor day. Not one session-dated item across the whole set concerns Disney, Kontoor or Bristol-Myers.

I have a standing rule about search re-serving an older instalment of a recurring column as current. I have been applying it to WebSearch — correctly, and again today, since its "biggest moves midday September 22" answer was 09-21's table (Intel +13%, AMD +9%) and its MRNA "+5%" verified at +6.45% off the broker. I had never once applied it to my own RSS layer, because I thought of that layer as mine rather than as a vendor. The distinction is imaginary. The failure here was not even the feed's — the feed was scrupulous and I was the one discarding the date.

What makes this worth a paragraph instead of a footnote is WHICH gate the stale item was pointed at. DIS's add gate opens on a fresh buy-rated PT raise. Its newest real analyst move is MoffettNathanson $135 -> $140 from 09-15, seven days old, already filed as colour on four separate ticks, and netting against Rothschild Redburn's $160 -> $125 cut on 09-14. A stale "Disney expands tech push" headline is exactly the texture that makes a seven-day-old raise feel current again — eventful name, eventful day, gate quietly reinterpreted. The brief has been rewritten with the correction rather than left standing, and the stale item is filed in it under an explicit STALE-RESERVE(09-18) source tag so it cannot be re-read later as a catalyst.

Primary-record checks: three of four gates shut on documents, not impressions

EDGAR filing index pulled per name this tick, rather than inferred from the news channel:

• KTB — newest filing of any kind is the 09-02 8-K. The metric of record IS the Lee-close 8-K plus actual buyback execution, chosen under L031 because it is dateable and not locked to the earnings calendar. It has not printed. "Add only on confirmation" has nothing to confirm.
• GME — newest 8-K is still 09-08; the only filings since are the two 09-21 Cohen Form 4s. The amended voider #1 (eBay in ANY consideration mix, broadened at 14:38Z) is UNFIRED. This is the one instrument in the book whose latency I actually beat: an 8-K publishes intraday and any tick reaches it, so it is adjudicated today on my schedule rather than in arrears.
• BMY — newest filing of any kind is a 09-10 Form 4. The AstraZeneca merger-talks item has no issuer filing behind it, and scanx.trade has now re-served the [path]40-day-old ZENBEXUS approval for a fifth consecutive day. Voiders 1-4 unfired. Per L037 the 4-of-5 clock takes no intraday reading and I computed none; one qualifying adverse settled close on 09-22/23/24 fires SELL 2 BMY as the first action of the following tick, and today's reader is the first tick of 09-23 (L033).

The one candidate the sweep actually produced, and why it is a pass

MRNA, verified +6.45% at 15:02Z (not the "+5%" the search claimed), roughly +500% on the year, with full Phase 3 INTerpath-001 personalized-melanoma data due October 24. It is refused on three written rules, and any one of them is sufficient:

1. L031. The exam is [path]4.5 weeks out. The stop is -10% on a name that moved 6.45% today. The test cannot be administered before price settles the position — the precise defect L031 exists to catch, in its purest form, because the exam here is not merely distant but binary.
2. L003. Entering after a 500% year and a 6.45% session is paying for the catalyst I would then be claiming as edge.
3. L036. My evidence that today is better than three weeks from today is that MRNA moved today. That is not timing evidence; it is the move itself, and buying it converts one claim into two.

The other session-dated names are no better: MCD's investor day and the AZO/KBH prints are events I have no file on, no pre-registered gate for, and would be entering purely because I noticed them this morning.

Grading the pass (L023): CHOSEN, and capital is still not the excuse

$515.89 buying power - $200 buffer = $315.89 deployable, $500 daily headroom untouched, kill switch $600 far below $999.92 equity, per-order notional cap $200. Nothing is binding. Every pass in this log is chosen and gradeable, and I would rather be graded on a refusal I can defend than on a fifth position invented to justify a DEEP.

The tape, broker-verified 15:02Z: SPY +0.005%, QQQ +0.46%, IWM +0.27%, XLY +0.11%, XLV +0.59%, XLE -0.14% — rates-down (10Y further below 5%), oil-down (Saudi pipeline restart, Iran signalling Hormuz inside 7 days), AI-led. My book holds no tech, so today's leadership is a sector I am not in; GME's +3.98% against a flat XLY is genuinely idiosyncratic rather than box beta (the L006 test, passing in the direction that would credit selection) — but it is a filing echo, the Cohen Form 4 the metric of record excludes by name, so I decline to bank it as a thesis win.

Book: GME +11.78%, DIS +2.96%, KTB +1.80%, BMY -6.29%. Equity $999.92. No trades.

DEEP — 2026-09-22, 11:45 ET, the fourteenth tick of the session and the fourth DEEP

No exit flags. Nothing bought, nothing sold. Deployed today $0.00, headroom $500.00, equity $996.82, buying power $515.89 — $315.89 deployable over the $200 buffer, kill switch $600 far below.

name	mark (15:37Z)	vs cost	live instrument	cushion
GME	$23.66	+11.76%	trailing stop ARMED $22.500 (+6.28% off a +12.57% peak)	4.90%
DIS	$103.585	+2.55%	2-of-3 clock + stop $90.909	12.24%
KTB	$66.83	+0.44%	fixed stop $59.886, no clock	10.40%
BMY	$62.708	-6.60%	4-of-5 clock, session 8 of 10 unsettled + stop $60.426	3.64%

The sweep found a gate, not a trade — and it was in my own file (L021)

RSS macro/markets/earnings returned 360 docs, 63 of them session-dated (up from 34 at 15:05Z). I date-filtered at the point of reading this time, which is the correction the 15:05Z sweep bought the hard way. The genuinely new item did not come from the tape at all: the broker earnings calendar puts GIS Q1 FY27 at 2026-09-23 "am", verified=true — and the GIS file carries an entry bar written 2026-09-11 with the answer unknowable at the time: buy only if that release prints NAR organic net sales growth >= ZERO and management does not cut the FY27 adjusted operating-profit guide below its down-13% floor.

I checked the bar's premise on the primary record rather than the news channel: GIS's newest 8-K is 2026-07-01, the exact document the bar was written against; since then only an 08-13 DEF 14A/ARS and routine Form 4s. No pre-announcement, no guide revision. The bar stands unedited going into the print.

Carry in calendar units (L035): Tuesday into a Wednesday pre-open release — ONE night, reader is the first tick of 09-23. Checked against the weekday, not inferred by adding one.

I did not buy it, and that is the rule rather than restraint. The gate is conditional; the condition has not printed. Buying tonight converts a conditional bar into an unconditional one at precisely the moment the answer is unknowable — L034's one-way door, L028's knob with a verdict coming into view. It would also be a naked overnight event bet, and an earnings gap opens straight through a -10% stop (L008), so my stated risk mechanism could not price the risk I would be taking.

The one piece of real new work: I pre-registered GIS's MIRROR FALSIFIER, blind, tonight. L034 says the observation that clears a gate becomes a live falsifier at the same weight. Written before the number exists: if the print clears the bar and I buy, then NAR organic growth back below zero at Q2 FY27, or any interim 8-K cutting the FY27 adj-OP floor below down-13%, is a mandatory re-derivation and a halved position — same instrument, same one-document sample size. And I ran L031 on the mirror itself instead of asserting it: the quarterly is [path]13 weeks out against a days-away stop, so the guide floor (revisable at any 8-K, readable by me off EDGAR on my own schedule) is the metric of record and the quarterly only confirms. Writing this after the print would have been the rescue L028 forbids.

The day's one real catalyst was AZO's, and it belongs to a name whose gate it cannot open

AZO Q4 FY26 EPS $56.05 vs $54.10 est — broker-verified off get_earnings_results, not searched. The complex is bid: AZO +5.601%, ORLY +4.006%, AAP +3.353%, GPC +2.578%.

AAP's re-arm bar, written 2026-08-20 while flat and unbiased, names AAP's OWN comp inflection or an honestly reset FY sales guide. AZO's EPS is a different instrument. Swapping a competitor's print in for the written number is L032 in its most seductive direction — not a rule I have narrated away, but a softer rule I would be quietly substituting on the one session it lets me buy. And per L006 the read-through is not even idiosyncratic: AAP is mid-pack in a green style box, which is factor beta. I also recorded the point that cuts against the bull case while I hold nothing: if AZO's beat is share gain rather than industry tide, it reads negative for the weakest operator in the group, and AAP is that operator. Gate shut.

Held positions

Re-read seven minutes after the 15:32Z FAST, so this is a check, not a re-litigation. GME appears in today's 11:49Z CNBC premarket-movers list — chatter, not a filing; voider #1 (eBay in any consideration mix) was adjudicated UNFIRED off the EDGAR index at 15:30Z, no 8-K since 09-08, and re-running it fifteen minutes later would be churn dressed as coverage. BMY gets NO intraday reading of its 4-of-5 clock, deliberately — third straight tick. L037 was written on this exact comp relation: six intraday reads on 09-18, every one adverse or sub-floor, five of six would have advanced the count, and the bell printed three unanimous FAVOURABLE admissible legs. Today's +0.14% is colour. Count of record stays 4 of 5, session 7 of 10 closed; tonight's close is read by the first tick of 09-23 — one night (L035). BMY carries the book's thinnest cushion at 3.64%, and the $60.43 stop is the faster of its two mechanisms. KTB and DIS are unchanged since 15:32Z; KTB's Lee-close 8-K remains not-yet-eligible rather than late.

Source failures, logged not papered over

WebSearch claimed IWM "jumping 1.04%" — the broker says +0.231%, 4.5x overstated (sign correct this time, which per my own standing note is not a reason to relax: the magnitude is unusable either way). Its stocktwits answer served a 2024 X post as today's trending list; its wallstreetbets answer served 2021-22 Benzinga articles. HN returned the relevance-ranked archive for the FOURTH consecutive sweep — 2021 Robinhood/GameStop restriction, WeWork's pulled IPO — and contributed zero live signal. A Yahoo preview labels tomorrow's GIS print "Q3 Earnings"; the broker calendar and my file both say Q1 FY27. Primary record wins.

Tape, broker-verified 15:41Z: SPY -0.108%, QQQ +0.363%, IWM +0.231%, XLY -0.223%, XLV +0.799%, XRT +0.793%, XLE +0.168%. Nasdaq at a record on an AI bid; I hold no tech, no energy.

Passes, graded (L023)

Nothing was binding — $315.89 deployable, full $500 headroom — so every non-trade was available. The split matters more than the count: AAP, CBRL, KMX and GIS are ENFORCED passes, shut by gates I wrote before today, on documents that have not printed. Only the unfiled names are CHOSEN: AZO/ORLY/GPC (chasing a moved complex with no file and no committed metric — and AZO's own next exam is 2026-12-08, eleven weeks out against a stop days away on a name that just gapped +5.6%, which is L031's mismatch exactly), plus MCD/GEHC/PTON/KBH (single analyst notes or event chatter; L004 wants a second independent signal).

CBRL deserves its own line because it nearly cleared: UBS raised its PT to $46 from $37 yesterday but held the rating at Neutral, and at $45.52 the stock now trades essentially at the raised target. By the precedent in my own KMX file — an upgrade to Neutral is a Day-2 pass, not a buy signal — a PT raise without a rating change is not the second buy-rated signal the gate names. The raise moved the target to the price instead of opening a discount.

Book: GME +11.76%, DIS +2.55%, KTB +0.44%, BMY -6.60%. Equity $996.82. No trades.

DEEP — 2026-09-22 12:27 ET · 5th DEEP of the session · no exit flags, no orders · the day's one

new catalyst was real, checked, and still not mine

Book: equity $998.406, buying power $515.89, deployed today $0.00 of $500 headroom, zero exit flags. $515.89 - $200 buffer = $315.89 deployable, kill switch $600 far below. Nothing was binding, so every non-trade below was AVAILABLE and is therefore gradeable (L023).

The one thing that was actually new: LEN — and checking it moved the event date five days backward

WebSearch served it as today's midday story: Berkshire bought >$200M of Lennar over three sessions and now owns just over 10%. I took the catalyst from search and the magnitude and the date from the primary record, in that order, because that ordering is the whole lesson of the last week.

• EDGAR, primary document: Form 3 — reporting person WARREN E. BUFFETT, issuer LENNAR CORP /NEW/ (CIK 920760), accession 0001193125-26-397052. EVENT DATE 2026-09-17. FILED 2026-09-21. The form type corroborates the >10% claim on its own: crossing 10% beneficial ownership is exactly what triggers a Form 3. This is the rare search lead that survives primary-record contact intact.
• Broker, not search: LEN +4.380% ($81.50 vs $78.08). Search said +5.29% — 1.21x overstated, sign correct this time. Homebuilder box: LEN +4.380%, DHI +2.169%, XHB +1.815%, PHM +1.606%, TOL +1.195%. LEN is genuinely alone, a 2.57pp idiosyncratic lead over its own sector ETF.

And it is a PASS, on three rules that all pre-date today.

1. The catalyst is stale in the units that matter. The trade is 09-17; the filing is 09-21. I would be buying day 2 of the reaction to a five-day-old event — which my own CBRL/KMX precedent already grades a pass when the mover is an analyst action, and there is no principled reason a filing gets a softer rule.
2. L031, and it is the same arithmetic I used 40 minutes ago. LEN's next administrable exam is the Q4 FY26 print, [path]11 weeks out, against a -10% stop days away on a name that just gapped. That is precisely why AZO was a pass at 15:45Z. Applying it to AZO and not to LEN would be L032's two-rulebook failure, and the direction of the exception — toward being in the position — is the tell.
3. L036, written on KTB nine sessions ago and still the freshest scar in the book. A 2.57pp relative lead is a claim about direction that carries no information about timing. Entering on the session I notice it silently converts one claim into two. KTB closed -4.168% against XLY +1.103% on day one of exactly that reasoning.

No gate was written for LEN today. A bar composed with the answer in view is L028's knob. The ticker file now carries a thesis block that says what would open it — an interim examinable datum inside a stop's horizon, plus a price condition that does not require chasing the gap — and explicitly rules out "another Berkshire filing" as sufficient, because that is the instrument already in the price (L034's one-way ratchet).

The four pre-registered gates, all re-read, all shut

• GIS — T-MINUS-ONE, PREMISE INTACT, NOT BOUGHT. Q1 FY27 prints 09-23 "am" (broker-verified). The bar written 2026-09-11 with its answer unknowable then: NAR organic net sales growth >= ZERO and no FY27 adj. operating-profit guide below the down-13% floor — both clauses in one document. Newest 8-K is still 2026-07-01, the document the bar was written against; nothing since 08-13 and that was a DEF 14A. No pre-announcement, no guide revision. Spot $35.845, +1.228%. The gate says buy IF the release prints X. It has not printed. Reader is the first tick of 09-23 — one night, no weekend multiplier (L035).
• AAP — SHUT, and today is the tempting version of the error. AAP +4.609% ($42.90), up from +3.353% at the last sweep — but AZO +5.379%, ORLY +4.236%, GPC +3.128% alongside it. AAP is 2nd of 4, not uniquely strong: L006 rotation, not an idiosyncratic read. The written bar names AAP's own comp inflection or an honestly reset FY sales guide; a competitor's EPS is a different instrument.
• CBRL — SHUT and moving away. Wants the low-$40s/high-$30s; spot $45.78, +2.028%, higher than the $45.52 read 40 minutes ago.
• KMX — SHUT. Needs a second independent signal plus resolution of two open red marks; next catalyst the 09-29 print. Spot $57.21, -1.123%.

Book instruments — the two that publish intraday and fire as an immediate EXIT, re-pulled 16:24Z

• GME voider #1: UNFIRED. since=2026-09-18 returns two documents, both 09-21 Cohen Form 4s. No 8-K since 09-08. The trigger as broadened at 14:38Z (any consideration mix at the [path]$56B / [path]$125-per-share scale) does not fire on a Form 4. Peak holds at +12.57% ($23.83) — today's $23.8252 has not exceeded the high-water mark, so no ratchet; trailing stop stays $22.500 (+6.28%), [path]5.6% of cushion.
• BMY voiders 1-4: ALL UNFIRED. Newest filing of any kind is still the 09-10 Form 4. Voider #3 (an FY26 guidance cut from $49.0-50.0B / $6.75-7.00) would arrive as an 8-K and has no issuer document behind it.
• BMY and DIS relative clocks: NO READING TAKEN — seventh consecutive tick declining. BMY is 4 of 5 with session 8 of 10 settling tonight; DIS is 2 of 3. Both adjudicate on the settled close, which publishes after my last tick, so the reader for both is the first tick of 09-23 (L033). L037 was written on the BMY comp relation specifically: six intraday reads on 09-18 all ran adverse or sub-floor and the bell printed favourable on all three legs — the auction reversed the sign, it did not narrow the gap. BMY lags XLV by [path]0.51pp as I write; that is a different instrument and it is not admissible. DIS's XLC/IYC/SPY successor comp set is still NOT IN FORCE — repairable only at the next clock OPENING, written blind.
• KTB: not eligible. The Lee-close 8-K is the metric of record; fiscal Q4 FY26 lands [path]early Oct, [path]2 weeks out.

Source failures, logged rather than papered over

• HN is a dead channel and I am done crediting it. Fifth straight sweep returning the relevance-ranked archive — the 2021 Robinhood/GameStop restriction, the 2014 WhatsApp deal, a 2020 AMD print. Its docs carry no published field at all, so nothing in that channel can even be date-filtered. Zero live signal.
• RSS published is RFC-822, not ISO. A filter written for the ISO shape returns ZERO of 360 session- dated docs and does not error — it just reports a quiet news day. Caught and fixed inside this sweep; the real count is 71 session-dated, up from 63 at 15:45Z. This is the same family as the 09-22 Disney failure: undated or mis-parsed headlines reading as today's catalysts.
• WebSearch overstated LEN by 1.21x and returned nothing at all on Capri or Amgen — two of the four names in the very headline it was answering from.

Tape, broker-verified 16:23Z

SPY -0.045%, QQQ +0.460%, IWM +0.350%, XLY -0.067%, XLV +0.615%, XRT +1.187%, XLE +0.160%. Nasdaq at a fresh all-time high on the AI bid (Alibaba's chip/data-centre plans, Dimon's $1T hyperscaler line, Meta's Muse); 10Y little changed into Fed comments; oil flat after Trump's UN remarks and an Iran/Hormuz reopening signal. My book holds no tech and no energy — the day's leadership is not mine, and saying so is cheaper than inventing a reason it should be.

Passes, graded

ENFORCED by gates written before today: GIS, AAP, CBRL, KMX. CHOSEN, discretionary, and therefore the ones that count against me if they run: LEN, CPRI +7.408%, VICR +13.629% (Q3 guide lifted to >20% q/q sequential revenue growth from [path]10%), AMGN +3.527%, GEHC +2.500% (Needham buy-the-dip), MCD +1.218% (investor day). Every one declined as chasing a moved tape with no file, no committed metric, and an L031 exam-vs-stop mismatch.

No orders placed. No thesis block edited on a held name. No clock advanced, reset or read for count. No comp set edited. No voider amended. One new ticker file opened (LEN) recording a pass, not a position. Signal brief written to logs/research/20260922T162540-signals.md. Ticker memory updated for KTB, DIS, BMY, GME, LEN, AAP, GIS, CBRL, KMX.

The finding: a verified exam date sat in my own file for eleven days and none of today's six sweeps carried it forward

CBRL reports Q4 FY26 tomorrow morning — broker earnings calendar, verified: true, 2026-09-23 "am", est EPS $0.16. I have graded CBRL as a pass six times today, most recently at 16:25Z as "SHUT and moving away, spot $45.78." Price, and nothing else.

I drafted this log claiming I had never checked the calendar for it. My own file refutes that, and I am recording the refutation rather than the draft: the 09-11 CBRL entries name the print date three separate times — 14:37Z ("2026-09-23 am, VERIFIED, estimate $0.17 — 8 sessions out"), 15:23Z, 16:09Z ("Eight sessions to the print") — together with the lesson I attached to it then: "L031 does NOT block CBRL; its own re-arm bar does, and I should stop reaching for the general objection when the specific one is already sufficient."

That makes the real defect worse than the one I was about to confess to, and it is L032's shape rather than a data gap. The fact was never missing. My daily read dropped it, and a dated, verified exam counted down from eight sessions to one inside a file I had open in front of me. A fact recorded in the file but absent from the daily read is not a fact I hold. Today's passes were not wrong in their conclusion; they were computed on a strictly poorer information set than my own record, which is how a gate quietly decays into a price-check with nobody editing a word of it. This is the second consecutive tick to catch me making a claim about a record I own and had not queried — 16:53Z was "twenty days of KTB silence." The fix is the same both times: name the instrument, then read it.

And checking the instrument produced the harder finding: my CBRL bar names a number the company does not print

Leg 2 of the re-arm bar, written 2026-06-10 and restated unchanged six times, admits on "traffic-recovery follow-through." I went to the primary document — the Q3 FY26 press release, period ended 2026-05-01 — and it discloses comparable store restaurant sales −2.6%, comparable store retail sales −1.8%, and no traffic figure at all. The −6.7% traffic number WebSearch served me is call commentary, not a release line; it is not an instrument a scheduled tick can read against a threshold.

This is L033 in its cheapest possible form — a gate written in June against a publication I never checked — and for once I found it one day before the print rather than on the session it decided something.

REPAIRED, BLIND, WITH THE 09-23 am RELEASE UNPUBLISHED (L028/L029). Same variable — demand recovery at the restaurant — moved onto the instrument the release actually prints, not a softer one: Q4 FY26 comparable store RESTAURANT sales at −1.6% y/y or better, a ≥1.0pp improvement on the −2.6% of record and ten times the 0.1pp reporting precision (L030), AND no FY27 revenue guide below the FY26 $3.27–3.30B range. Both print in the same document. L034 symmetry in the same breath: −3.6% or worse takes the name off the bench entirely, same sample size, same instrument — the gate is not a one-way door. Leg 1 is not retired: clearing leg 2 admits a candidate, not a fill, and a post-print gap-up still has to clear the L003 valuation gate that made $46 a pass in June. Buying the gap because my own gate opened on the gap's own release is L036's timing defect wearing a cleared bar.

Book — no exit flags, no orders, read on the primary record

sym	qty	basis	last	P&L	peak	stop	cushion
GME	5	21.17	23.875	+12.78%	+12.78% (new peak)	trailing $22.5225	5.7%
DIS	1	101.01	103.705	+2.67%	+8.25%	fixed $90.91	12.3%
KTB	2	66.54	67.85	+1.97%	+3.19%	fixed $59.886	11.7%
BMY	2	67.14	62.7045	−6.61%	+1.42%	fixed $60.43	3.72%

No orders today — verified by file (logs/orders/2026-09-22-orders.jsonl does not exist), not from the tick report, which lists open positions only and would hide a same-day stop-out.

Every book instrument that publishes intraday was queried, not asserted:

• GME voider #1 UNFIRED — EDGAR since=2026-09-18 returns exactly two documents, both 09-21 Form 4s; no 8-K since 09-08. The day's entire GME channel is one datum wearing eight headlines (Cohen $26.39M and Attal [path]$401K, re-narrated by Benzinga ×2, Quiver, Seeking Alpha, Pluang, AOL, Yahoo). Eight retellings of one filing is volume, not confirmation, and the thesis block already pre-committed that insider buys are comfort, not exam.
• BMY voiders 1–4 UNFIRED — newest filing of any kind is still the 09-10 Form 4. The ZENBEXUS "accelerated approval" ran a fourth consecutive session; the FDA granted it 2026-08-13, forty days ago. That matters for exactly one reason: a fresh catalyst is the only thing that could argue a pre-registered exit out of firing at 4 of 5, and this one is not fresh.
• KTB mirror falsifiers UNFIRED — EDGAR since=2026-09-10 returns zero filings, so no Lee-close 8-K and no ASR 8-K; 0 of the 7 capture-log items touch the metric of record. Checkable, unlike yesterday's formulation.
• BMY and DIS relative clocks: NO READING TAKEN, eighth consecutive tick (L037). BMY sits at 4 of 5, session 8 of 10, adjudicated on the settled close. Reader: the first tick of Wednesday 2026-09-23, weekday checked, one night's carry (L033/L035) — and BMY's 3.72% cushion is the thinnest leash in the book carrying it.

Search-channel audit — the error scales with the drama

Every claim in WebSearch's midday mover table, checked against the broker at 17:01Z: PSKY claimed +6.51%, actual +2.119% (3.07x); CLDX claimed −12.19%, actual −10.914%; PLNT claimed −9.08%, actual −9.755%; NYT claimed −8.65%, actual −9.046%. Four of five sign-correct with magnitude errors to 3x. The fifth: Ryder (R) claimed −20.8%, actual +0.659% — sign inverted, magnitude wrong by 31x.

The single most dramatic claim in the table was the fabricated one. That sharpens the standing rule past "verify magnitudes": the channel's error scales with how arresting the claim is, so the number most likely to make me act is the number least likely to be real. HN returned 0 docs for the sixth straight sweep — dead channel, no longer credited.

Tape — a barbell, not a risk-on day

Broker-verified 17:01Z: SPY +0.014%, QQQ +0.514%, IWM +0.518%, XLP +1.172%, XRT +1.478%, XLV +0.665%, XLY +0.227%, XLE −0.024%. The Nasdaq prints a record high on the AI bid while defensives lead it and the S&P sits dead flat between them. My book holds no tech and no energy, so the day's leadership is not mine — and per L006 I am not crediting the flat-to-green book to stock-picking either.

Action: NO TRADES — chosen, and graded

$515.89 BP − $200 buffer = $315.89 deployable; full $500 daily headroom untouched; kill switch $600 far below [path]$999.9. Nothing was binding, so every non-trade is AVAILABLE and gradeable (L023).

• ENFORCED by gates written before today: GIS, CBRL, AAP, KMX. GIS prints 09-23 am (bar: NAR organic net sales ≥ 0 AND no FY27 adj-op-profit guide below the down-13% floor) — and XLP leading at +1.172% with GIS +1.313% is the staples bid pre-paying for the catalyst my gate reads, which worsens my entry and changes the bar by nothing. CBRL shut on both legs. AAP +5.413% is a second session of the same AZO-driven complex beta, which is L006 rotation, not the own-comp inflection the bar names. KMX −1.867%, print 09-29.
• CHOSEN passes: LEN, CPRI, VICR, AMGN, PSKY, and the knives PLNT/NYT/CLDX — gapped movers or falling knives, none with a file, a committed metric, or an exam inside a −10% leash (L031).

Two pre-registered gates adjudicate in under twenty-four hours, both on tomorrow's "am" releases. Sitting on $315.89 the session before that is the position I want to be in, and I am recording it as a choice now rather than discovering it as an excuse tomorrow.

DEEP, 30 minutes after the last one: nothing moved but prices

The 17:05Z DEEP already swept every channel. This one re-ran RSS (360 docs, 77 dated today), HN (30 docs, dead channel) and WebSearch, and wrote the brief logs/research/20260922T173916-signals.md. Nothing that bears on the book or the bench showed up since 17:05Z.

Search is still unreliable. WebSearch served the 17:01Z mover table again, word for word. That includes the fabricated Ryder −20.8% (the broker showed +0.659% at 17:01Z). Getting the same answer twice is not a second source. The WSB query named AMD, SOFI, TSLA and AVGO. Broker quotes at 17:39Z: AMD +0.32%, AVGO +0.33%, TSLA +0.72%, SOFI +1.44%. That is ordinary AI-tape beta, not a catalyst. These are chosen passes. AMD ($617), AVGO ($364) and TSLA ($378) cost more than the $200 per-order cap for one whole share. SOFI has no file, no committed metric and no exam date inside a −10% stop (L031).

Tape at 17:39Z: SPY −0.04%, QQQ +0.48%.

Book: no exit flags, no orders

sym	qty	basis	last	P&L	peak	stop	cushion
GME	5	21.17	24.16	+14.12%	+14.24%	trailing $22.677	6.1%
KTB	2	66.54	67.98	+2.16%	+3.19%	fixed $59.886	11.9%
DIS	1	101.01	103.56	+2.52%	+8.25%	fixed $90.91	12.2%
BMY	2	67.14	62.64	−6.70%	+1.42%	fixed $60.426	3.5%

No thesis is broken. BMY's relative clock (4 of 5) is scored on the settled close, and the first tick of 09-23 reads it (L033/L035/L037). An intraday reading is not the verdict, so I'm not taking one. The fixed stop still fires on its own if BMY hits $60.43.

Action: NO TRADES (chosen)

$515.89 buying power − $200 buffer = $315.89 deployable. $500 daily headroom is untouched. The GIS and CBRL gates both get decided by tomorrow morning's reports, and I'm staying in cash until then on purpose, as the 17:05Z log already stated.

DEEP 18:14Z: fresh sweep, nothing actionable

I swept the channels again 35 minutes after the 17:39Z DEEP. RSS returned 390 docs, 77 dated today. HN is still a dead channel, and I ran three WebSearch queries. Brief: logs/research/20260922T181610-signals.md. These are the only headlines published since 17:39Z: BofA's Brent-above-$150 scenario (18:03), Trump's disclosure of his July trades (18:06), a CNBC piece on options traders betting on new highs (18:09), and flat Treasuries (18:13). None of them bears on the book (KTB/DIS/BMY/GME) or the bench (GIS/CBRL).

Search check: it served the fabricated Ryder −20.8% for the third time. Repeating the same answer is still one source. Stocktwits claims GME is +6.02%. The broker shows +6.13%, which is consistent, so this time the chatter and the tape agree. VKTX is up about 30% on VK2735 data. I have no file on it, and entering a gap on its biggest day means making a timing bet with no evidence (L036). I'm passing by choice.

Book: no exit flags

sym	last	P&L	peak	stop	cushion
GME	24.155	+14.10%	+14.24%	trailing $22.68	6.1%
KTB	68.55	+3.02%	+3.28%	fixed $59.89	12.6%
DIS	103.74	+2.70%	+8.25%	fixed $90.91	12.4%
BMY	62.735	−6.56%	+1.42%	fixed $60.43	3.7%

No thesis is broken. The BMY clock (4 of 5) is still adjudicated on the settled close at the first tick of 09-23 (L033/L035).

Action: NO TRADES (chosen)

Deployable is $315.89 ($515.89 BP − $200 buffer). daily_headroom is $500 and deployed_today is $0. The GIS and CBRL gates both resolve on tomorrow morning's reports, and I'm staying in cash until then as pre-stated.

DEEP 18:51Z: fresh sweep, nothing actionable

I swept again 35 minutes after the 18:16Z DEEP. RSS returned 380 docs, and 9 of them were published since 18:10Z. Brief: logs/research/20260922T185318-signals.md. Here's what's new: the US-Greenland Arctic military deal, Peloton's treadmill revamp, Treasury studying whether a diesel export ban is feasible, the Nasdaq at a fresh ATH with the S&P flat, and cheaper AI models. None of them touches the book (KTB/DIS/BMY/GME) or the bench (GIS/CBRL). The diesel-ban item matters for refiners (CVI is on file), but it's a feasibility study, not a policy. There's no dated act and no gate, so it's not a trade.

Search check: the fabricated Ryder −20.8% has now been served for the fourth time. The "Stocktwits trending this morning" result is an X post from 2024 (NVDA +9.30%, SNOW, ELF...), and search presented it as current. I discarded both. VKTX (+[path]30%) is still a gap-chase with no timing evidence (L036), so I pass.

Book: no exit flags

sym	last	P&L	peak	stop	cushion
GME	24.235	+14.48%	+14.62%	trailing $22.72	6.3%
KTB	68.71	+3.26%	+3.28%	fixed $59.89	12.8%
DIS	103.50	+2.47%	+8.25%	fixed $90.91	12.2%
BMY	62.49	−6.93%	+1.42%	fixed $60.43	3.3%

No thesis is broken. GME is 0.1% below its new peak and the ratchet holds at $22.72. BMY's clock is at 4 of 5, and it's adjudicated on the settled close at the first tick of 09-23 (L033/L035). The $60.43 hard stop is the backstop. KTB is at an intraday high with no news. DIS is −0.70% against the $104.23 adjusted prior close, which is noise.

Action: NO TRADES (chosen)

Deployable is $315.89 ($515.89 BP − $200 buffer), daily_headroom is $500, and deployed_today is $0. The GIS/CBRL gates resolve on tomorrow morning's reports, so I'm staying in cash as pre-stated.

DEEP 19:30Z: second-to-last sweep of the session, nothing actionable

RSS returned 360 docs. 22 of them were published since 18:50Z, which comes to 13 distinct stories. Brief: logs/research/20260922T193021-signals.md.

New since 18:53Z: a Trump disclosure of July trades, the Trump UN speech, [path]760k Obamacare enrollments removed, and CSCO −5.21% on a Piper Sandler PT cut (broker: $105.65 vs $111.46). CSCO isn't on file and has no gate, so I won't catch a knife on an analyst note. LEN "pops" on Berkshire is CNBC re-serving the same Form 3 I passed on at 16:27Z (event 09-17, filed 09-21). It's now +6.26% against XHB +2.42% and DHI +3.68%, a 3.8pp idiosyncratic lead that has only widened. That makes it more of a chase, not less. The pass stands on the reasons written before today: a stale catalyst, no exam inside the stop horizon (L031), and direction without timing (L036).

Search: SWKS is 33% up in a month with the Qorvo merger in its "final stages", so it's a chase. VKTX was already passed. CLDX, PLNT and NYT are decliners that aren't on file. Magnitudes are unverified per the standing rule, and none of it bears on a decision.

Book: no exit flags

sym	last	P&L	peak	stop	cushion
GME	24.275	+14.67%	+14.74%	trailing $22.73	6.4%
KTB	68.75	+3.32%	+3.32% (new peak)	fixed $59.89	12.9%
DIS	103.87	+2.83%	+8.25%	fixed $90.91	12.5%
BMY	62.32	−7.18%	+1.42%	fixed $60.43	3.0%

No thesis is broken. GME's only news is more of Cohen's $26.4M buy, which is already in the +6.66% day. KTB printed a new intraday peak at +3.52% on the day. BMY's only headline is the 40-day-old iberdomide approval being re-published again, and it doesn't change the 5-session clock, which is adjudicated on the settled close at the first tick of 09-23 (L033/L035). The $60.43 hard stop remains the backstop.

Action: NO TRADES (chosen)

Deployable is $315.89 ($515.89 BP − $200 buffer), daily_headroom is $500, and deployed_today is $0. The GIS/CBRL gates resolve on tomorrow morning's reports, and I'm staying in cash as pre-stated.