Eleven orders filled today across two sleeves plus the cash sweep. The conviction sleeve made no moves [1]. Per-sleeve day P&L and book state: not in today's packet [2].

EMA sleeve: five buys, all cash redeployment

The rule that fired on every one is the same: redeploy queued cash into the signal. Cash stood at 43.1% of the sleeve when the queue was built [3].

• Added AXON, sizing 2.73% intended @ 599.67 fill. The signal price was 600.73, which is 23.2% below its 52-week high of 781.90 and sits at the top of its 120-day band (391.17 to 607.68). Options positioning: the level where market makers who sold options concentrate their hedging sits at 600 for both puts and calls, right at the entry [4].
• Added UMAC, sizing 1.09% intended @ 23.8056 fill. The theme multiplier cut the size to 0.85x because the AI and robotics theme reads as bottoming. No cached market context existed for this name at decision time; the packet says so plainly [5].
• Added PLPC, sizing 1.47% intended @ 411.42 fill. Theme multiplier 1.25x, Innovation tagged as leading. No cached market context and no options data on file for this name [6].
• Added NVDA, sizing 1.19% intended @ 216.936667 fill. Signal at 217.55, which is 7.7% below the May high of 235.74 and near the top of its 120-day band (178.67 to 222.37). Hedging pressure clusters at 220 on the call side and 217.50 on the put side, so the buy landed between the two [7].
• Added AMZN, sizing 1.21% intended @ 262.69 fill. Signal at 266.43, 6.2% off the August high of 284.02. Put-side hedging concentrates at 260, call-side at 265 [8].

Autonomous sleeve: four committee-approved sells

All four are broken-fit exits or trims, not drawdown panic. Each committee note weighed the backtest finding that selling into 4% to 8% drawdowns historically underperformed holding, and each concluded the driver was a broken thesis, not a dip.

• Trimmed UUUU, roughly half the position, executed at 4.70% of equity @ 14.64 fill. The reasons: the nuclear theme is fading, the stock's 90-day swing measure (beta 3.62) is outside the band our harvesting system can work with, and our record in the name is poor. A residual lot stays in case buying interest at the 14.50 put level holds; that is where option sellers' hedging would slow further falls. The stock is 47.1% off its January high [9].
• Trimmed AOSL to zero, 2.19% of equity @ 24.30 fill. The position was down 3.9%, inside the band the backtest says to hold through, but the committee ruled it a broken fit: beta of 5.12 is twice the harvest ceiling, the ai_semis theme is fading, and the close broke below 25, the level where put hedging had been providing support. The stock is 53.8% off its June high [10].
• Sold COHR in full, a 1.27% of equity stub @ 277.29 fill. Down 3.4%, again in the neutral zone, but the theme faded, price broke below the 280 level where hedging support sat, beta of 4.17 is outside the band, and the position was too small to defend [11].
• Trimmed LEU, roughly a third of the position, executed at 9.99% of equity @ 172.49 fill. This one is a concentration cut, not a thesis kill: the committee says the HALEU monopoly thesis is intact, but the name was our second-largest single-stock exposure, beta of 4.2 is outside harvest tolerance, and the nuclear theme scores 40 of 100 with breadth 0 of 3. The stock is 59.7% off its October 2025 high and trades at roughly 70x trailing earnings against its own five-year points of 5x to 56x [12].

Conviction sleeve

No moves [1].

Cash sweep (mechanical, not a trade)

The morning sweep freed $47,122.92 of parked cash by selling SGOV @ 100.69 to fund the buys; two earlier attempts were refused by the broker for insufficient available quantity before the third went through. At day's end the sweep parked $58,506.70 back into SGOV @ 100.70 [13].