Five trades filled today across two sleeves, plus the routine cash sweep. Conviction sat out. Per-sleeve day P&L and book state: not in today's packet.

EMA sleeve: four buys, all cash redeploys into live signals

The rule fired the same way four times: cash above target gets redeployed into names carrying an active signal, sized off the signal price.

• Added AMZN, sizing 1.43% @ 253.50. Signal price was 259.77, so the fill came in below the trigger. AMZN closed Monday about 8.54% off its 52-week high of 284.02, with a trailing P/E of 20.62 against a peer median of 31.84.
• Added NVDA, sizing 1.42% @ 215.21. Signal price 220.78. The stock sits roughly 7.72% off its May high of 235.74, and its trailing P/E of 27.36 is below every year-end reading in its five-year history, where the low was 37.82.
• Added AXON, sizing 2.59% @ 555.07. Signal price 566.56. This one was cut to a 0.75x theme weight because both of its themes, Defense and Autonomy and Drones, are fading in our theme reads. The name is 27.14% off its high and trades at 228.26 times trailing earnings against a peer median of 26.40, so the signal gets respected but at reduced weight.
• Added PLPC, sizing 1.10% @ 402.21. Signal price 400.85. Also a 0.75x theme weight, Innovation fading. It trades at 45.35 times trailing earnings, the top of its own five-year range, which is why the weight is trimmed rather than full.

Autonomous sleeve: one committee-approved sell

Trimmed SMR, cutting the position from 15.78% of the book toward roughly 9 to 10%, @ 9.02. The technical case: the price sits below all its moving averages and below 9.50, the level where options dealers who sold puts tend to add selling pressure as the stock falls. The nuclear theme scored 22 out of 100 in our reads, the stock is 82.65% off its October high, and the company booked no binding contracts behind $10,690,000 of trailing revenue. The strategist approved the trim as a concentration and regime problem, not a reaction to a dip, and kept partial exposure for the speculative deal case.

The sweep

Freed the parked cash in the morning to fund the buys, selling the SGOV position @ 100.40, then re-parked the excess at the close, buying back in @ 100.41. A sweep, not a trade.

Receipts: [1] today's fills at our broker, prices as stated. [2] our decision records for each trade, carrying the signal prices, theme weights, and the SMR committee rationale. [3] market levels as of the August 28 and 31 closes: AMZN high 284.02, NVDA high 235.74, AXON high 777.58, SMR high 53.43 and put support at 9.50.