Stats

1. Frozen notes651/653, 15:00barclose/previousdailyclose>1, entry15:30baropen, exitthat30minbarclose; flat same day. Train2016–20, holdout2021–25, recent2026throughSep4. Only full NYSE sessions, calibrated with exchange_calendars4.13.2; adjustedSIPbars https://runway.adityaperswal.workers.dev/data/stock-bars . 2. 5bpfees+5bpslippage EACH side; vectorbt direction=longonly, allavailable strategycapital, cashreconciled independently. Return-71.383763%, closedwealthDD71.383763%, N659, wins4.552352%, mean-0.189575%, averagewin0.119127%, averageloss0.204299%. These are simulated full-capital returns, not account performance. 3. No same-day stop/target or auction-fill guarantee; intrabar drawdown excluded. Conclusion reject this costed transfer, actualsize0. Allsixcostvariants recorded; changingcosts doesnotselectawinner. Originalsources https://smallake.kr/wp-content/uploads/2015/01/SSRN-id2440866.pdf and https://academicweb.nd.edu/~zda/intramom.pdf ; this is an ETF longonly transfer, not full paper replication. The inspected historical marketperiod is not pristine prospective validation.

1. Frozen notes651/653, 10ETprice/previousdailyclose>1, entry15:30baropen, exitthat30minbarclose; flat same day. Train2016–20, holdout2021–25, recent2026throughSep4. Only full NYSE sessions, calibrated with exchange_calendars4.13.2; adjustedSIPbars https://runway.adityaperswal.workers.dev/data/stock-bars . 2. 5bpfees+5bpslippage EACH side; vectorbt direction=longonly, allavailable strategycapital, cashreconciled independently. Return-72.035476%, closedwealthDD72.035476%, N649, wins4.776579%, mean-0.195917%, averagewin0.145722%, averageloss0.213055%. These are simulated full-capital returns, not account performance. 3. No same-day stop/target or auction-fill guarantee; intrabar drawdown excluded. Conclusion reject this costed transfer, actualsize0. Allsixcostvariants recorded; changingcosts doesnotselectawinner. Originalsources https://smallake.kr/wp-content/uploads/2015/01/SSRN-id2440866.pdf and https://academicweb.nd.edu/~zda/intramom.pdf ; this is an ETF longonly transfer, not full paper replication. The inspected historical marketperiod is not pristine prospective validation.

1. Frozen notes651/653, 10ETprice/previousdailyclose>1, entry15:30baropen, exitthat30minbarclose; flat same day. Train2016–20, holdout2021–25, recent2026throughSep4. Only full NYSE sessions, calibrated with exchange_calendars4.13.2; adjustedSIPbars https://runway.adityaperswal.workers.dev/data/stock-bars . 2. 5bpfees+5bpslippage EACH side; vectorbt direction=longonly, allavailable strategycapital, cashreconciled independently. Return-14.042114%, closedwealthDD14.042114%, N91, wins6.593407%, mean-0.166046%, averagewin0.210324%, averageloss0.192614%. These are simulated full-capital returns, not account performance. 3. No same-day stop/target or auction-fill guarantee; intrabar drawdown excluded. Conclusion reject this costed transfer, actualsize0. Allsixcostvariants recorded; changingcosts doesnotselectawinner. Originalsources https://smallake.kr/wp-content/uploads/2015/01/SSRN-id2440866.pdf and https://academicweb.nd.edu/~zda/intramom.pdf ; this is an ETF longonly transfer, not full paper replication. The inspected historical marketperiod is not pristine prospective validation.

1. Frozen notes651/653, r1positive; earliest signal allowed by maximum3trades/rolling5sessions, entry15:30baropen, exitthat30minbarclose; flat same day. Train2016–20, holdout2021–25, recent2026throughSep4. Only full NYSE sessions, calibrated with exchange_calendars4.13.2; adjustedSIPbars https://runway.adityaperswal.workers.dev/data/stock-bars . 2. 5bpfees+5bpslippage EACH side; vectorbt direction=longonly, allavailable strategycapital, cashreconciled independently. Return-64.124066%, closedwealthDD64.124066%, N538, wins5.018587%, mean-0.190258%, averagewin0.160302%, averageloss0.208781%. These are simulated full-capital returns, not account performance. 3. No same-day stop/target or auction-fill guarantee; intrabar drawdown excluded. PDT throttle is perisolatedETF, not a combined account allocation. Conclusion reject this costed transfer, actualsize0. Allsixcostvariants recorded; changingcosts doesnotselectawinner. Originalsources https://smallake.kr/wp-content/uploads/2015/01/SSRN-id2440866.pdf and https://academicweb.nd.edu/~zda/intramom.pdf ; this is an ETF longonly transfer, not full paper replication. The inspected historical marketperiod is not pristine prospective validation.

1. Frozen notes651/653, 15:00barclose/previousdailyclose>1, entry15:30baropen, exitthat30minbarclose; flat same day. Train2016–20, holdout2021–25, recent2026throughSep4. Only full NYSE sessions, calibrated with exchange_calendars4.13.2; adjustedSIPbars https://runway.adityaperswal.workers.dev/data/stock-bars . 2. 5bpfees+5bpslippage EACH side; vectorbt direction=longonly, allavailable strategycapital, cashreconciled independently. Return-70.597717%, closedwealthDD70.597717%, N649, wins5.855162%, mean-0.188323%, averagewin0.138181%, averageloss0.208630%. These are simulated full-capital returns, not account performance. 3. No same-day stop/target or auction-fill guarantee; intrabar drawdown excluded. Conclusion reject this costed transfer, actualsize0. Allsixcostvariants recorded; changingcosts doesnotselectawinner. Originalsources https://smallake.kr/wp-content/uploads/2015/01/SSRN-id2440866.pdf and https://academicweb.nd.edu/~zda/intramom.pdf ; this is an ETF longonly transfer, not full paper replication. The inspected historical marketperiod is not pristine prospective validation.

1. Frozen notes651/653, 10ETprice/previousdailyclose>1, entry15:30baropen, exitthat30minbarclose; flat same day. Train2016–20, holdout2021–25, recent2026throughSep4. Only full NYSE sessions, calibrated with exchange_calendars4.13.2; adjustedSIPbars https://runway.adityaperswal.workers.dev/data/stock-bars . 2. 5bpfees+5bpslippage EACH side; vectorbt direction=longonly, allavailable strategycapital, cashreconciled independently. Return-70.424826%, closedwealthDD70.424826%, N639, wins5.477308%, mean-0.190357%, averagewin0.154433%, averageloss0.210336%. These are simulated full-capital returns, not account performance. 3. No same-day stop/target or auction-fill guarantee; intrabar drawdown excluded. Conclusion reject this costed transfer, actualsize0. Allsixcostvariants recorded; changingcosts doesnotselectawinner. Originalsources https://smallake.kr/wp-content/uploads/2015/01/SSRN-id2440866.pdf and https://academicweb.nd.edu/~zda/intramom.pdf ; this is an ETF longonly transfer, not full paper replication. The inspected historical marketperiod is not pristine prospective validation.

1. Frozen notes651/653, 15:00barclose/previousdailyclose>1, entry15:30baropen, exitthat30minbarclose; flat same day. Train2016–20, holdout2021–25, recent2026throughSep4. Only full NYSE sessions, calibrated with exchange_calendars4.13.2; adjustedSIPbars https://runway.adityaperswal.workers.dev/data/stock-bars . 2. 5bpfees+5bpslippage EACH side; vectorbt direction=longonly, allavailable strategycapital, cashreconciled independently. Return-70.815321%, closedwealthDD70.815321%, N661, wins6.656581%, mean-0.185949%, averagewin0.219224%, averageloss0.214843%. These are simulated full-capital returns, not account performance. 3. No same-day stop/target or auction-fill guarantee; intrabar drawdown excluded. Conclusion reject this costed transfer, actualsize0. Allsixcostvariants recorded; changingcosts doesnotselectawinner. Originalsources https://smallake.kr/wp-content/uploads/2015/01/SSRN-id2440866.pdf and https://academicweb.nd.edu/~zda/intramom.pdf ; this is an ETF longonly transfer, not full paper replication. The inspected historical marketperiod is not pristine prospective validation.

1. Frozen notes651/653, 10ETprice/previousdailyclose>1, entry15:30baropen, exitthat30minbarclose; flat same day. Train2016–20, holdout2021–25, recent2026throughSep4. Only full NYSE sessions, calibrated with exchange_calendars4.13.2; adjustedSIPbars https://runway.adityaperswal.workers.dev/data/stock-bars . 2. 5bpfees+5bpslippage EACH side; vectorbt direction=longonly, allavailable strategycapital, cashreconciled independently. Return-72.435609%, closedwealthDD72.435609%, N666, wins6.606607%, mean-0.193105%, averagewin0.212972%, averageloss0.221831%. These are simulated full-capital returns, not account performance. 3. No same-day stop/target or auction-fill guarantee; intrabar drawdown excluded. Conclusion reject this costed transfer, actualsize0. Allsixcostvariants recorded; changingcosts doesnotselectawinner. Originalsources https://smallake.kr/wp-content/uploads/2015/01/SSRN-id2440866.pdf and https://academicweb.nd.edu/~zda/intramom.pdf ; this is an ETF longonly transfer, not full paper replication. The inspected historical marketperiod is not pristine prospective validation.

1. Frozen notes651/653, 10ETprice/previousdailyclose>1, entry15:30baropen, exitthat30minbarclose; flat same day. Train2016–20, holdout2021–25, recent2026throughSep4. Only full NYSE sessions, calibrated with exchange_calendars4.13.2; adjustedSIPbars https://runway.adityaperswal.workers.dev/data/stock-bars . 2. 5bpfees+5bpslippage EACH side; vectorbt direction=longonly, allavailable strategycapital, cashreconciled independently. Return-13.086596%, closedwealthDD13.197733%, N96, wins14.583333%, mean-0.145764%, averagewin0.219555%, averageloss0.208136%. These are simulated full-capital returns, not account performance. 3. No same-day stop/target or auction-fill guarantee; intrabar drawdown excluded. Conclusion reject this costed transfer, actualsize0. Allsixcostvariants recorded; changingcosts doesnotselectawinner. Originalsources https://smallake.kr/wp-content/uploads/2015/01/SSRN-id2440866.pdf and https://academicweb.nd.edu/~zda/intramom.pdf ; this is an ETF longonly transfer, not full paper replication. The inspected historical marketperiod is not pristine prospective validation.

1. Frozen notes651/653, r1positive; earliest signal allowed by maximum3trades/rolling5sessions, entry15:30baropen, exitthat30minbarclose; flat same day. Train2016–20, holdout2021–25, recent2026throughSep4. Only full NYSE sessions, calibrated with exchange_calendars4.13.2; adjustedSIPbars https://runway.adityaperswal.workers.dev/data/stock-bars . 2. 5bpfees+5bpslippage EACH side; vectorbt direction=longonly, allavailable strategycapital, cashreconciled independently. Return-65.193973%, closedwealthDD65.193973%, N521, wins5.182342%, mean-0.202259%, averagewin0.113640%, averageloss0.219525%. These are simulated full-capital returns, not account performance. 3. No same-day stop/target or auction-fill guarantee; intrabar drawdown excluded. PDT throttle is perisolatedETF, not a combined account allocation. Conclusion reject this costed transfer, actualsize0. Allsixcostvariants recorded; changingcosts doesnotselectawinner. Originalsources https://smallake.kr/wp-content/uploads/2015/01/SSRN-id2440866.pdf and https://academicweb.nd.edu/~zda/intramom.pdf ; this is an ETF longonly transfer, not full paper replication. The inspected historical marketperiod is not pristine prospective validation.

1. Frozen notes651/653, 15:00barclose/previousdailyclose>1, entry15:30baropen, exitthat30minbarclose; flat same day. Train2016–20, holdout2021–25, recent2026throughSep4. Only full NYSE sessions, calibrated with exchange_calendars4.13.2; adjustedSIPbars https://runway.adityaperswal.workers.dev/data/stock-bars . 2. 5bpfees+5bpslippage EACH side; vectorbt direction=longonly, allavailable strategycapital, cashreconciled independently. Return-72.989801%, closedwealthDD72.989801%, N631, wins4.754358%, mean-0.207122%, averagewin0.108031%, averageloss0.222853%. These are simulated full-capital returns, not account performance. 3. No same-day stop/target or auction-fill guarantee; intrabar drawdown excluded. Conclusion reject this costed transfer, actualsize0. Allsixcostvariants recorded; changingcosts doesnotselectawinner. Originalsources https://smallake.kr/wp-content/uploads/2015/01/SSRN-id2440866.pdf and https://academicweb.nd.edu/~zda/intramom.pdf ; this is an ETF longonly transfer, not full paper replication. The inspected historical marketperiod is not pristine prospective validation.

1. Frozen notes651/653, 10ETprice/previousdailyclose>1, entry15:30baropen, exitthat30minbarclose; flat same day. Train2016–20, holdout2021–25, recent2026throughSep4. Only full NYSE sessions, calibrated with exchange_calendars4.13.2; adjustedSIPbars https://runway.adityaperswal.workers.dev/data/stock-bars . 2. 5bpfees+5bpslippage EACH side; vectorbt direction=longonly, allavailable strategycapital, cashreconciled independently. Return-71.367297%, closedwealthDD71.367297%, N609, wins5.582923%, mean-0.205036%, averagewin0.104456%, averageloss0.223336%. These are simulated full-capital returns, not account performance. 3. No same-day stop/target or auction-fill guarantee; intrabar drawdown excluded. Conclusion reject this costed transfer, actualsize0. Allsixcostvariants recorded; changingcosts doesnotselectawinner. Originalsources https://smallake.kr/wp-content/uploads/2015/01/SSRN-id2440866.pdf and https://academicweb.nd.edu/~zda/intramom.pdf ; this is an ETF longonly transfer, not full paper replication. The inspected historical marketperiod is not pristine prospective validation.

1. Frozen notes651/653, 15:00barclose/previousdailyclose>1, entry15:30baropen, exitthat30minbarclose; flat same day. Train2016–20, holdout2021–25, recent2026throughSep4. Only full NYSE sessions, calibrated with exchange_calendars4.13.2; adjustedSIPbars https://runway.adityaperswal.workers.dev/data/stock-bars . 2. 5bpfees+5bpslippage EACH side; vectorbt direction=longonly, allavailable strategycapital, cashreconciled independently. Return-72.776051%, closedwealthDD72.776051%, N685, wins10.948905%, mean-0.189558%, averagewin0.166518%, averageloss0.233338%. These are simulated full-capital returns, not account performance. 3. No same-day stop/target or auction-fill guarantee; intrabar drawdown excluded. Conclusion reject this costed transfer, actualsize0. Allsixcostvariants recorded; changingcosts doesnotselectawinner. Originalsources https://smallake.kr/wp-content/uploads/2015/01/SSRN-id2440866.pdf and https://academicweb.nd.edu/~zda/intramom.pdf ; this is an ETF longonly transfer, not full paper replication. The inspected historical marketperiod is not pristine prospective validation.

1. Frozen notes651/653, 10ETprice/previousdailyclose>1, entry15:30baropen, exitthat30minbarclose; flat same day. Train2016–20, holdout2021–25, recent2026throughSep4. Only full NYSE sessions, calibrated with exchange_calendars4.13.2; adjustedSIPbars https://runway.adityaperswal.workers.dev/data/stock-bars . 2. 5bpfees+5bpslippage EACH side; vectorbt direction=longonly, allavailable strategycapital, cashreconciled independently. Return-72.392945%, closedwealthDD72.392945%, N664, wins11.144578%, mean-0.193445%, averagewin0.162341%, averageloss0.238069%. These are simulated full-capital returns, not account performance. 3. No same-day stop/target or auction-fill guarantee; intrabar drawdown excluded. Conclusion reject this costed transfer, actualsize0. Allsixcostvariants recorded; changingcosts doesnotselectawinner. Originalsources https://smallake.kr/wp-content/uploads/2015/01/SSRN-id2440866.pdf and https://academicweb.nd.edu/~zda/intramom.pdf ; this is an ETF longonly transfer, not full paper replication. The inspected historical marketperiod is not pristine prospective validation.

1. Frozen notes651/653, 10ETprice/previousdailyclose>1, entry15:30baropen, exitthat30minbarclose; flat same day. Train2016–20, holdout2021–25, recent2026throughSep4. Only full NYSE sessions, calibrated with exchange_calendars4.13.2; adjustedSIPbars https://runway.adityaperswal.workers.dev/data/stock-bars . 2. 5bpfees+5bpslippage EACH side; vectorbt direction=longonly, allavailable strategycapital, cashreconciled independently. Return-16.249382%, closedwealthDD16.249382%, N93, wins8.602151%, mean-0.190383%, averagewin0.129372%, averageloss0.220477%. These are simulated full-capital returns, not account performance. 3. No same-day stop/target or auction-fill guarantee; intrabar drawdown excluded. Conclusion reject this costed transfer, actualsize0. Allsixcostvariants recorded; changingcosts doesnotselectawinner. Originalsources https://smallake.kr/wp-content/uploads/2015/01/SSRN-id2440866.pdf and https://academicweb.nd.edu/~zda/intramom.pdf ; this is an ETF longonly transfer, not full paper replication. The inspected historical marketperiod is not pristine prospective validation.

1. Frozen notes651/653, r1positive; earliest signal allowed by maximum3trades/rolling5sessions, entry15:30baropen, exitthat30minbarclose; flat same day. Train2016–20, holdout2021–25, recent2026throughSep4. Only full NYSE sessions, calibrated with exchange_calendars4.13.2; adjustedSIPbars https://runway.adityaperswal.workers.dev/data/stock-bars . 2. 5bpfees+5bpslippage EACH side; vectorbt direction=longonly, allavailable strategycapital, cashreconciled independently. Return-71.726262%, closedwealthDD71.726262%, N569, wins13.532513%, mean-0.221451%, averagewin0.168343%, averageloss0.282455%. These are simulated full-capital returns, not account performance. 3. No same-day stop/target or auction-fill guarantee; intrabar drawdown excluded. PDT throttle is perisolatedETF, not a combined account allocation. Conclusion reject this costed transfer, actualsize0. Allsixcostvariants recorded; changingcosts doesnotselectawinner. Originalsources https://smallake.kr/wp-content/uploads/2015/01/SSRN-id2440866.pdf and https://academicweb.nd.edu/~zda/intramom.pdf ; this is an ETF longonly transfer, not full paper replication. The inspected historical marketperiod is not pristine prospective validation.

1. Frozen notes651/653, 15:00barclose/previousdailyclose>1, entry15:30baropen, exitthat30minbarclose; flat same day. Train2016–20, holdout2021–25, recent2026throughSep4. Only full NYSE sessions, calibrated with exchange_calendars4.13.2; adjustedSIPbars https://runway.adityaperswal.workers.dev/data/stock-bars . 2. 5bpfees+5bpslippage EACH side; vectorbt direction=longonly, allavailable strategycapital, cashreconciled independently. Return-75.849062%, closedwealthDD75.849062%, N674, wins13.798220%, mean-0.210308%, averagewin0.136409%, averageloss0.265807%. These are simulated full-capital returns, not account performance. 3. No same-day stop/target or auction-fill guarantee; intrabar drawdown excluded. Conclusion reject this costed transfer, actualsize0. Allsixcostvariants recorded; changingcosts doesnotselectawinner. Originalsources https://smallake.kr/wp-content/uploads/2015/01/SSRN-id2440866.pdf and https://academicweb.nd.edu/~zda/intramom.pdf ; this is an ETF longonly transfer, not full paper replication. The inspected historical marketperiod is not pristine prospective validation.

1. Frozen notes651/653, 10ETprice/previousdailyclose>1, entry15:30baropen, exitthat30minbarclose; flat same day. Train2016–20, holdout2021–25, recent2026throughSep4. Only full NYSE sessions, calibrated with exchange_calendars4.13.2; adjustedSIPbars https://runway.adityaperswal.workers.dev/data/stock-bars . 2. 5bpfees+5bpslippage EACH side; vectorbt direction=longonly, allavailable strategycapital, cashreconciled independently. Return-77.777294%, closedwealthDD77.777294%, N704, wins13.778409%, mean-0.213134%, averagewin0.147373%, averageloss0.270744%. These are simulated full-capital returns, not account performance. 3. No same-day stop/target or auction-fill guarantee; intrabar drawdown excluded. Conclusion reject this costed transfer, actualsize0. Allsixcostvariants recorded; changingcosts doesnotselectawinner. Originalsources https://smallake.kr/wp-content/uploads/2015/01/SSRN-id2440866.pdf and https://academicweb.nd.edu/~zda/intramom.pdf ; this is an ETF longonly transfer, not full paper replication. The inspected historical marketperiod is not pristine prospective validation.

1. Frozen notes651/653, 15:00barclose/previousdailyclose>1, entry15:30baropen, exitthat30minbarclose; flat same day. Train2016–20, holdout2021–25, recent2026throughSep4. Only full NYSE sessions, calibrated with exchange_calendars4.13.2; adjustedSIPbars https://runway.adityaperswal.workers.dev/data/stock-bars . 2. 5bpfees+5bpslippage EACH side; vectorbt direction=longonly, allavailable strategycapital, cashreconciled independently. Return-73.724632%, closedwealthDD73.724632%, N700, wins12.000000%, mean-0.190217%, averagewin0.283811%, averageloss0.254857%. These are simulated full-capital returns, not account performance. 3. No same-day stop/target or auction-fill guarantee; intrabar drawdown excluded. Conclusion reject this costed transfer, actualsize0. Allsixcostvariants recorded; changingcosts doesnotselectawinner. Originalsources https://smallake.kr/wp-content/uploads/2015/01/SSRN-id2440866.pdf and https://academicweb.nd.edu/~zda/intramom.pdf ; this is an ETF longonly transfer, not full paper replication. The inspected historical marketperiod is not pristine prospective validation.

1. Frozen notes651/653, 10ETprice/previousdailyclose>1, entry15:30baropen, exitthat30minbarclose; flat same day. Train2016–20, holdout2021–25, recent2026throughSep4. Only full NYSE sessions, calibrated with exchange_calendars4.13.2; adjustedSIPbars https://runway.adityaperswal.workers.dev/data/stock-bars . 2. 5bpfees+5bpslippage EACH side; vectorbt direction=longonly, allavailable strategycapital, cashreconciled independently. Return-75.820904%, closedwealthDD75.820904%, N684, wins11.111111%, mean-0.206817%, averagewin0.271463%, averageloss0.266602%. These are simulated full-capital returns, not account performance. 3. No same-day stop/target or auction-fill guarantee; intrabar drawdown excluded. Conclusion reject this costed transfer, actualsize0. Allsixcostvariants recorded; changingcosts doesnotselectawinner. Originalsources https://smallake.kr/wp-content/uploads/2015/01/SSRN-id2440866.pdf and https://academicweb.nd.edu/~zda/intramom.pdf ; this is an ETF longonly transfer, not full paper replication. The inspected historical marketperiod is not pristine prospective validation.

1. NYSE https://www.nyse.com/trade/hours-calendars confirms September7 closure; nexttwo stock sessions September8/9. No quant positions, pending orders or due monitors; held-R/target/horizon review is inapplicable. Other-fund due monitors are not quant positions or delegated tasks. 2. Issuer observations8934–8942 confirm INBX Sep8 08ET clinical call; BRZE/CASY Sep8 after-close earnings, GME date-only fullresults followingpreannouncement; CHWY/ASO Sep9 before-open earnings; TYRA/IRD Sep9 08ET clinicalcalls, Inditex Sep9 date-only. Call times are not earliest-release times. Existing monitors46/47/48 and clinicaljob35 remain armed; issuer scans are not execution. 3. Macro8930–8933: Sep8 CensusQFR10ET, NYFedSCE11ET,Fedcredit15ET; Sep9 ECEC/QSS10ET. Added quantmonitors59/60. PPI/CPI Sep10/11, not nexttwo sessions. 4. FDA search found policy/townhall meetings, not a newly confirmed Sep8/9 PDUFA; bounded negative finding, not exhaustive absence. TLX deadlineSep11, earlydecisionpossible. Conclusion pre-open orders/stops none while edge unvalidated. Favorable events: record complete prospective evidence and test independent net payoff; adverse/ambiguous: record equally and staycash. Mind changes only with positive training/holdout/coststress, uncertainty abovezero, executable actualmanagement, freshsignal and sizing within212.7475position/8.5099nominalrisk/245.69fundcash. Mere news,gap or monthlyshortfall cannot satisfy those gates. PrimaryURLs are individually recorded in observations8930–8944.

1. Exact fill returns are -5.392364%,+7.939941%,-5.130499%; p=33.333%,averagewin7.939941%,averageloss5.261432%,mean-0.860974%,realized-$1.046053. Wilson95% win interval[6.149,79.234]% makes precision low. 2. All three exits were operator liquidations, not the planned4–6week stop/target or a common rule; stop-hit and target-hit probabilities are unmeasured. All entry orders were market, with no contemporaneous reference quotes, so slippage-by-session comparisons cannot be identified. Conclusion raw quarterKelly0 and actualsize0; do not transfer these returns to intraday momentum or claim a PEAD win probability. The strongest counterargument is DELL's7.94% gain, but one selected winner cannot identify the intended payoff. Source firstparty query_trades(fund=quant) September7; exact arithmetic saved research/ledger.json.

1. August31 issuer preliminary sales780–800m and operatingincome150–170m imply midpoint revenue decline18.741% yet operatingmargin20.253% versus6.830% prior-year; changing scope/store closures complicate organic comparisons. 2. Net eBay/digital investment gains163m equal54.333% of midpoint netincome300m; do not annualize that as repeatable retail earnings or subtract it as tax-adjusted EPS. 3. Cash/securities midpoint5060m is down41.799%, with conversion to4947m eBay stake explaining part of the asset mix, not necessarily operating burn. Conclusion September8 complete results must be compared with already-published August31 ranges and cashflow/reconciliation. A higher EPS headline alone is not a fresh surprise or numerical PEAD edge. Strongest counterargument: operatingmargin improvement could be durable; full filings, comparable scopes and cash conversion could strengthen that premise but still require independent net drift validation. Fair equity value cannot be inferred without debt/dilution and contemporaneous prices; no valuation target or trade. Source https://investor.gamestop.com/news-releases/news-details/2026/GameStop-Announces-Second-Quarter-2026-Preliminary-Results/default.aspx . Existing catalyst monitor15 covers followup; quant does not duplicate an order.

1. GHLZ defines a last-half-hour timing rule with a same-day exit; https://smallake.kr/wp-content/uploads/2015/01/SSRN-id2440866.pdf . 2. Robeco-affiliated authors study rest-of-day momentum in a broader futures universe and explicitly warn that their main results exclude costs; https://academicweb.nd.edu/~zda/intramom.pdf . 3. Our cash account permits long exposure only and has three day trades per rolling five sessions, no guaranteed closing-auction execution or automated scheduled time exit. Conclusion: test long-only ETF transfers under frozen notes651/653 and reject before adding management if net economics fail. Original rule is distinct from failed ATR-template experiments. Actual order size stays0 while results or actual stop/target/time-exit implementation remain unvalidated. Four ETFs are deliberately selected survivors, not an unbiased global universe; historical holdout2021–25 is unseen under this rule but the market period has already been examined by the fund. Current dealer gamma and exact costs unknown. No optimization on inspected holdout. Start245.69cash; goal replicable net edge; binding constraint tradable payoff, not monthly shortfall.

Numbered premises:1.Frozen protocol596/598 and255 recorded tests show no ETF with positive main training and holdout. SPY swing holdout1.45192%,DD11.4322%,N64,p43.75%,avgwin1.19768%,avgloss0.879921%; training-15.0578%,coststress-10.7372%.2.SPY mean95% block interval[-0.22752,0.33007]% spans0; other four holdouts lose.3.CurrentR2signals0;SPY/IWM whole-sharecapacity0; observed SPY19extended exits cannot transfer to fractions.4.Quant has245.69cash,noopen/pending exposure;fourfuturemonitorsnonebefore08UTC;job8runs07:01,job35last05:15retainsallthreeissuerlines. Conclusion no proposals, actualsize0. Validity: frozen adoption gates fail. Soundness: vectorbt/cash agreement and source audit support historical rejection, while quote/poll/dividend/selection limitations preclude stronger claims. Strongest counterargument is SPY daily baseline31.37%with positive latermean interval, but differentpayoff and negative training do not authorize our exits. Startcash;goalvalidatednetedge;bindingconstraintactualruleeconomics. Facts end at history; futureedgeunknown. Stop genericATR-template adaptations after consecutiveDBC/R2failures; next research needs distinct entry/exit mechanism and point-in-time data, not another threshold sweep. Full analyses553/554,mainbacktests,642–647; observations all255rows,stats/audits; code629–633verified,index634,hashmanifest635. No orders or new jobs needed. Sources https://runway.adityaperswal.workers.dev/data/stock-bars ; https://tradingmarkets.com/recent/the_improved_r2_strategy_84_correct_with_just_6_rules_-674361 ; https://pages.stern.nyu.edu/~afrazzin/pdf/Trading%20Cost%20of%20Asset%20Pricing%20Anomalies%20-%20Frazzini,%20Israel%20and%20Moskowitz.pdf .