Arena run #262

You are an Arena strategy executor. You must follow the strategy rules strictly and output ONLY valid JSON. You are NOT allowed to invent prices, fundamentals, earnings dates, or sentiment. If a field is null/empty, treat it as unknown. You are a constrained selector (no narrative).

{"task": "stage1_universe_scan", "region": "EU", "strategy": {"key": "meanrev-v1", "name": "Two-Stage LLM Mean-Reversion (Arena v1)", "rules": {"max_positions": 10, "max_buys_per_run": 2, "avoid_overtrading": true, "max_sells_per_run": 2, "max_gross_leverage": 3.0, "fixed_position_size": 3000.0, "universe_symbols_eu": [], "universe_symbols_us": []}}, "selection_rules": {"horizon": "2-10 trading days", "target": "short-term mean reversion in liquid equities", "constraints": ["Select exactly 5 candidates", "Avoid earnings within 5 trading days (if known)", "Avoid highly binary/event-driven moves (if known)", "Avoid sector concentration: max 1 per sector unless clearly justified (sector may be unknown)"]}, "universe": [{"symbol": "UKW_CFD.UK", "name": "GREENCOAT UK WIND PLC", "sector": "", "last_price": 98.15, "change_1d_pct": -2.163078149920239, "distance_from_ma200_pct": -12.46829595436757, "distance_from_ma50_pct": -6.845149398930528, "volatility_20d_pct": 32.62462101640031, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "FUTR_CFD.UK", "name": "FUTURE PLC", "sector": "", "last_price": 422.0, "change_1d_pct": -13.70143149284253, "distance_from_ma200_pct": -38.122509366851766, "distance_from_ma50_pct": -25.139370269544393, "volatility_20d_pct": 146.49494054552733, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "BIG_CFD.FR", "name": "Bigben Interactive", "sector": "", "last_price": 0.473, "change_1d_pct": -40.65244667503137, "distance_from_ma200_pct": -57.481044006670004, "distance_from_ma50_pct": -45.84258856396987, "volatility_20d_pct": 245.7660340614924, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "RCO_CFD.FR", "name": "Remy Cointreau SA", "sector": "", "last_price": 44.46, "change_1d_pct": 2.39520958083832, "distance_from_ma200_pct": -3.2796592729049445, "distance_from_ma50_pct": 10.645677004214793, "volatility_20d_pct": 86.69304047565859, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "HOT_CFD.DE", "name": "HOCHTIEF AG", "sector": "", "last_price": 398.6, "change_1d_pct": -2.447381302006857, "distance_from_ma200_pct": 58.05159262356643, "distance_from_ma50_pct": 11.57058011999239, "volatility_20d_pct": 4685.701433158062, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "LIO_CFD.UK", "name": "LIONTRUST ASSET MANAGEMENT", "sector": "", "last_price": 259.0, "change_1d_pct": 0.19342359767891004, "distance_from_ma200_pct": -20.670350849922237, "distance_from_ma50_pct": -0.35817197640911624, "volatility_20d_pct": 128.03912578370827, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "BRNL_CFD.NL", "name": "Brunel International", "sector": "", "last_price": 7.29, "change_1d_pct": 9.459459459459453, "distance_from_ma200_pct": -18.088599146503427, "distance_from_ma50_pct": -6.739092055808138, "volatility_20d_pct": 70.09638475078242, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "GLPG_CFD.NL", "name": "", "sector": "", "last_price": 27.9, "change_1d_pct": -1.2738853503184822, "distance_from_ma200_pct": 2.349620801991814, "distance_from_ma50_pct": -1.303221972237556, "volatility_20d_pct": 75.74925360349539, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "ATG_CFD.UK", "name": "AUCTION TECHNOLOGY GROUP", "sector": "", "last_price": 308.0, "change_1d_pct": 0.8183306055646433, "distance_from_ma200_pct": null, "distance_from_ma50_pct": 0.788638371674466, "volatility_20d_pct": 4266.048570157822, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "EXA_CFD.FR", "name": "Exail Technologies SA", "sector": "", "last_price": 119.4, "change_1d_pct": -3.0844155844155785, "distance_from_ma200_pct": 27.051593268478857, "distance_from_ma50_pct": 16.46458013640988, "volatility_20d_pct": 4642.965535142968, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "BYIT_CFD.UK", "name": "BYTES TECHNOLOGY GROUP PLC", "sector": "", "last_price": 296.8, "change_1d_pct": 0.33806626098715764, "distance_from_ma200_pct": null, "distance_from_ma50_pct": -11.728666769768846, "volatility_20d_pct": 3915.770802621436, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "WKP_CFD.UK", "name": "WORKSPACE GROUP PLC", "sector": "", "last_price": 423.0, "change_1d_pct": 3.6764705882353033, "distance_from_ma200_pct": 1.8640028868691871, "distance_from_ma50_pct": 5.808194506978848, "volatility_20d_pct": 70.2233148398582, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "PZC_CFD.UK", "name": "PZ CUSSONS PLC", "sector": "", "last_price": 88.8, "change_1d_pct": -1.442841287458374, "distance_from_ma200_pct": 17.468164209381708, "distance_from_ma50_pct": 17.734408145948244, "volatility_20d_pct": 83.4578314576364, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "HO_CFD.FR", "name": "", "sector": "", "last_price": 254.4, "change_1d_pct": -3.490136570561464, "distance_from_ma200_pct": 3.535507642753899, "distance_from_ma50_pct": 2.0365435217142958, "volatility_20d_pct": 55.662032611698024, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "OPM_CFD.FR", "name": "", "sector": "", "last_price": 16.501, "change_1d_pct": -2.7063679245282968, "distance_from_ma200_pct": 19.71720881369976, "distance_from_ma50_pct": 1.4485981882993215, "volatility_20d_pct": 53.97744690192678, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "FCNCA_CFD.US", "name": "First Citizens BancShares Inc", "sector": "", "last_price": 2062.21, "change_1d_pct": 2.9771445977459177, "distance_from_ma200_pct": 5.907751416577356, "distance_from_ma50_pct": -2.1858617088771015, "volatility_20d_pct": 72.5049794337677, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "OCDO_CFD.UK", "name": "OCADO GROUP PLC", "sector": "", "last_price": 221.9, "change_1d_pct": -21.312056737588648, "distance_from_ma200_pct": -14.06664037160078, "distance_from_ma50_pct": -3.1767959417158487, "volatility_20d_pct": 240.9598068877464, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "ARCAD_CFD.NL", "name": "Arcadis", "sector": "", "last_price": 29.14, "change_1d_pct": -16.26436781609194, "distance_from_ma200_pct": -33.61450347680939, "distance_from_ma50_pct": -29.785264351010067, "volatility_20d_pct": 177.66442273009648, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "RBT_CFD.FR", "name": "", "sector": "", "last_price": 864.0, "change_1d_pct": 0.7971608799685503, "distance_from_ma200_pct": 2.4201022590039756, "distance_from_ma50_pct": -1.1206101957010772, "volatility_20d_pct": 40.43977142028838, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "BTRW_CFD.UK", "name": "Barratt Redrow Plc", "sector": "", "last_price": 388.9, "change_1d_pct": -1.0432569974554773, "distance_from_ma200_pct": null, "distance_from_ma50_pct": 2.643553171947066, "volatility_20d_pct": 2256.25743018361, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "BESI_CFD.NL", "name": "BE SEMICONDUCTOR INDUSTRIES", "sector": "", "last_price": 173.0, "change_1d_pct": -7.486631016042777, "distance_from_ma200_pct": null, "distance_from_ma50_pct": 10.073997722168148, "volatility_20d_pct": 4491.334001117135, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "SMHN_CFD.DE", "name": "SUSS MicroTec SE", "sector": "", "last_price": 49.396, "change_1d_pct": -0.11122120887342435, "distance_from_ma200_pct": 32.297384143035245, "distance_from_ma50_pct": 9.351022182787737, "volatility_20d_pct": 88.78036776367544, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "HMSO_CFD.UK", "name": "HAMMERSON PLC", "sector": "", "last_price": 348.8, "change_1d_pct": -1.8570624648283518, "distance_from_ma200_pct": 20.24082637989966, "distance_from_ma50_pct": 7.964017771966869, "volatility_20d_pct": 3280.1806241206145, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "ESTC_CFD.US", "name": "Elastic NV", "sector": "", "last_price": 58.12, "change_1d_pct": -6.348694811472777, "distance_from_ma200_pct": null, "distance_from_ma50_pct": -17.911459628031, "volatility_20d_pct": 5992.432493755186, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "ASML_CFD.NL", "name": "ASML HOLDING NV", "sector": "", "last_price": 1238.2, "change_1d_pct": -0.530205655526983, "distance_from_ma200_pct": null, "distance_from_ma50_pct": 14.613821945219009, "volatility_20d_pct": 3327.489164148393, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "ZS_CFD.US", "name": "Zscaler Inc", "sector": "", "last_price": 159.75, "change_1d_pct": -5.467779158530095, "distance_from_ma200_pct": null, "distance_from_ma50_pct": -23.608710185074933, "volatility_20d_pct": 5347.360864637588, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "AALB_CFD.NL", "name": "Aalberts", "sector": "", "last_price": 34.92, "change_1d_pct": 1.041666666666674, "distance_from_ma200_pct": null, "distance_from_ma50_pct": 15.641392465426819, "volatility_20d_pct": 3530.057506339397, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}], "output_schema": {"selected_stocks": [{"symbol": "string", "mean_reversion_score": "integer 0-100", "selection_reason": "short, concrete, indicator-based"}], "rejected_common_reasons": ["string"]}}

{
  "selected_stocks": [
    {
      "symbol": "FUTR_CFD.UK",
      "selection_reason": "Deeply below trend (MA200 -38.12%, MA50 -25.14%) after sharp 1D selloff (-13.70%); potential oversold bounce setup (high vol noted).",
      "mean_reversion_score": 78
    },
    {
      "symbol": "ARCAD_CFD.NL",
      "selection_reason": "Strong downside extension vs MA200 (-33.61%) and MA50 (-29.79%) with large 1D drop (-16.26%); qualifies as oversold mean-reversion candidate (elevated vol).",
      "mean_reversion_score": 74
    },
    {
      "symbol": "LIO_CFD.UK",
      "selection_reason": "Below longer-term trend (MA200 -20.67%) while near MA50 (-0.36%) and flat on the day (+0.19%); potential reversion back toward MA50/MA200 band.",
      "mean_reversion_score": 62
    },
    {
      "symbol": "UKW_CFD.UK",
      "selection_reason": "Moderately oversold vs MA200 (-12.47%) and MA50 (-6.85%) with controlled 1D decline (-2.16%) and comparatively lower 20D volatility (32.62%).",
      "mean_reversion_score": 59
    },
    {
      "symbol": "BRNL_CFD.NL",
      "selection_reason": "Still below MA200 (-18.09%) and MA50 (-6.74%) despite a bounce day (+9.46%); possible continuation of mean reversion after initial snapback (20D vol 70.10%).",
      "mean_reversion_score": 55
    }
  ],
  "rejected_common_reasons": [
    "Extreme 1D move suggesting potentially binary/event-driven behavior (e.g., ~-20% to -40% day)",
    "Implausible/very high reported 20D volatility (potential data-quality issue) making signals unreliable",
    "Not oversold vs moving averages (at/above MA50 and/or MA200), weaker mean-reversion edge",
    "Missing key technical inputs (e.g., MA200 null) reducing confidence in oversold assessment"
  ]
}

You are an Arena portfolio manager. You must follow the strategy rules strictly and output ONLY valid JSON. You are NOT allowed to invent prices/fundamentals/news/earnings. If a field is null/empty, treat it as unknown. Avoid overtrading: if changes are marginal, prefer HOLD. Do not churn.

{"task": "stage2_portfolio_management", "region": "EU", "strategy": {"key": "meanrev-v1", "name": "Two-Stage LLM Mean-Reversion (Arena v1)", "rules": {"max_positions": 10, "max_buys_per_run": 2, "avoid_overtrading": true, "max_sells_per_run": 2, "max_gross_leverage": 3.0, "fixed_position_size": 3000.0, "universe_symbols_eu": [], "universe_symbols_us": []}}, "portfolio_constraints": {"initial_equity": 10000.0, "max_positions": 10, "fixed_position_size": 3000.0, "max_gross_leverage": 3.0, "overtrading_rules": ["Max 2 SELL actions per run unless risk event forces more", "Max 2 BUY actions per run", "If no clear improvement vs current holdings, output HOLD for everything"]}, "current_portfolio": [{"symbol": "AMH_CFD.US", "qty": 101.09519797809605, "avg_price": 29.674999999999997, "last_price": 29.134999999999998, "unrealized_pnl": -54.591406908171784, "opened_at": "2026-02-20T17:33:34.647633+00:00"}, {"symbol": "BYIT_CFD.UK", "qty": 10.252904989747094, "avg_price": 292.6, "last_price": 292.6, "unrealized_pnl": 0.0, "opened_at": "2026-02-16T09:30:55.514112+00:00"}, {"symbol": "DSY_CFD.FR", "qty": 0.0, "avg_price": 17.881, "last_price": 17.45, "unrealized_pnl": 0.0, "opened_at": "2026-02-16T09:30:55.514112+00:00"}, {"symbol": "ETSY_CFD.US", "qty": 0.0, "avg_price": 44.13, "last_price": 50.769999999999996, "unrealized_pnl": 0.0, "opened_at": "2026-02-19T00:47:27.070066+00:00"}, {"symbol": "FBIN_CFD.US", "qty": 58.85237861696911, "avg_price": 50.974999999999994, "last_price": 55.42, "unrealized_pnl": 261.5988229524281, "opened_at": "2026-02-16T17:30:52.485845+00:00"}, {"symbol": "FLO_CFD.US", "qty": 303.7974683544304, "avg_price": 9.875, "last_price": 10.105, "unrealized_pnl": 69.87341772151912, "opened_at": "2026-02-19T00:47:27.070066+00:00"}, {"symbol": "FUTR_CFD.UK", "qty": 7.488766849725412, "avg_price": 400.6, "last_price": 423.6, "unrealized_pnl": 172.24163754368448, "opened_at": "2026-02-18T09:36:37.284518+00:00"}, {"symbol": "MLCO_CFD.US", "qty": 0.0, "avg_price": 5.51, "last_price": 6.06, "unrealized_pnl": 0.0, "opened_at": "2026-02-16T17:30:52.485845+00:00"}, {"symbol": "PAYC_CFD.US", "qty": 24.748391354561953, "avg_price": 121.22, "last_price": 114.64, "unrealized_pnl": -162.84441511301762, "opened_at": "2026-02-19T17:33:27.020111+00:00"}, {"symbol": "RMV_CFD.UK", "qty": 7.070469007777516, "avg_price": 424.3, "last_price": 424.3, "unrealized_pnl": 0.0, "opened_at": "2026-02-18T09:36:37.284518+00:00"}, {"symbol": "TMV_CFD.DE", "qty": 627.4837900020916, "avg_price": 4.781, "last_price": 4.59, "unrealized_pnl": -119.8494038903994, "opened_at": "2026-02-19T09:33:49.074031+00:00"}, {"symbol": "ZS_CFD.US", "qty": 18.778167250876315, "avg_price": 159.76, "last_price": 149.06, "unrealized_pnl": -200.92638958437635, "opened_at": "2026-02-21T17:32:49.140800+00:00"}], "candidates": [{"symbol": "FUTR_CFD.UK", "mean_reversion_score": 78, "selection_reason": "Deeply below trend (MA200 -38.12%, MA50 -25.14%) after sharp 1D selloff (-13.70%); potential oversold bounce setup (high vol noted)."}, {"symbol": "ARCAD_CFD.NL", "mean_reversion_score": 74, "selection_reason": "Strong downside extension vs MA200 (-33.61%) and MA50 (-29.79%) with large 1D drop (-16.26%); qualifies as oversold mean-reversion candidate (elevated vol)."}, {"symbol": "LIO_CFD.UK", "mean_reversion_score": 62, "selection_reason": "Below longer-term trend (MA200 -20.67%) while near MA50 (-0.36%) and flat on the day (+0.19%); potential reversion back toward MA50/MA200 band."}, {"symbol": "UKW_CFD.UK", "mean_reversion_score": 59, "selection_reason": "Moderately oversold vs MA200 (-12.47%) and MA50 (-6.85%) with controlled 1D decline (-2.16%) and comparatively lower 20D volatility (32.62%)."}, {"symbol": "BRNL_CFD.NL", "mean_reversion_score": 55, "selection_reason": "Still below MA200 (-18.09%) and MA50 (-6.74%) despite a bounce day (+9.46%); possible continuation of mean reversion after initial snapback (20D vol 70.10%)."}], "output_schema": {"actions": {"sell": [{"symbol": "string", "reason": "string"}], "hold": [{"symbol": "string", "reason": "string"}], "buy": [{"symbol": "string", "position_size": "number (currency amount)", "reason": "string"}]}, "portfolio_rationale": "string"}}

{
  "actions": {
    "buy": [
      {
        "reason": "High mean-reversion score (74) with strong downside extension vs MA200/MA50 and large 1D drop; adds a top-ranked oversold setup while staying within max_positions and leverage limits.",
        "symbol": "ARCAD_CFD.NL",
        "position_size": 3000
      }
    ],
    "hold": [
      {
        "reason": "Small unrealized loss with no new opposing signal provided; keep position to allow mean-reversion thesis time to play out and avoid churn.",
        "symbol": "AMH_CFD.US"
      },
      {
        "reason": "No new mean-reversion edge information vs alternatives; hold to avoid overtrading.",
        "symbol": "BYIT_CFD.UK"
      },
      {
        "reason": "Position is working (+unrealized PnL). No explicit reversal/exit trigger data provided; hold to avoid unnecessary churn.",
        "symbol": "FBIN_CFD.US"
      },
      {
        "reason": "Modest profit and no stronger, data-backed reason to rotate out; hold.",
        "symbol": "FLO_CFD.US"
      },
      {
        "reason": "Still a high mean-reversion candidate (score 78). Despite current profit, the selection reason indicates oversold context; maintain exposure.",
        "symbol": "FUTR_CFD.UK"
      },
      {
        "reason": "Currently down, but no validated stop/exit signal supplied; hold under mean-reversion framework and avoid forced loss-taking without new evidence.",
        "symbol": "PAYC_CFD.US"
      },
      {
        "reason": "No new edge information provided; hold to avoid overtrading.",
        "symbol": "RMV_CFD.UK"
      },
      {
        "reason": "Unrealized loss but no additional risk/event data provided; hold per mean-reversion approach and avoid churn.",
        "symbol": "TMV_CFD.DE"
      },
      {
        "reason": "Unrealized loss; without validated catalyst/exit trigger data, keep position for potential rebound and avoid overtrading.",
        "symbol": "ZS_CFD.US"
      }
    ],
    "sell": []
  },
  "portfolio_rationale": "Maintain current positions to avoid churn since no hard exit triggers or superior, fully-evidenced rotations are provided. Add one new high-scoring EU candidate (ARCAD_CFD.NL) to reach 10 positions, keeping fixed position sizing and staying at/within the 3.0 max gross leverage constraint. No sells this run to comply with the overtrading preference and because existing holdings lack confirmed deterioration signals in the provided data."
}

{
  "selected_stocks": [
    {
      "symbol": "FUTR_CFD.UK",
      "selection_reason": "Deeply below trend (MA200 -38.12%, MA50 -25.14%) after sharp 1D selloff (-13.70%); potential oversold bounce setup (high vol noted).",
      "mean_reversion_score": 78
    },
    {
      "symbol": "ARCAD_CFD.NL",
      "selection_reason": "Strong downside extension vs MA200 (-33.61%) and MA50 (-29.79%) with large 1D drop (-16.26%); qualifies as oversold mean-reversion candidate (elevated vol).",
      "mean_reversion_score": 74
    },
    {
      "symbol": "LIO_CFD.UK",
      "selection_reason": "Below longer-term trend (MA200 -20.67%) while near MA50 (-0.36%) and flat on the day (+0.19%); potential reversion back toward MA50/MA200 band.",
      "mean_reversion_score": 62
    },
    {
      "symbol": "UKW_CFD.UK",
      "selection_reason": "Moderately oversold vs MA200 (-12.47%) and MA50 (-6.85%) with controlled 1D decline (-2.16%) and comparatively lower 20D volatility (32.62%).",
      "mean_reversion_score": 59
    },
    {
      "symbol": "BRNL_CFD.NL",
      "selection_reason": "Still below MA200 (-18.09%) and MA50 (-6.74%) despite a bounce day (+9.46%); possible continuation of mean reversion after initial snapback (20D vol 70.10%).",
      "mean_reversion_score": 55
    }
  ],
  "rejected_common_reasons": [
    "Extreme 1D move suggesting potentially binary/event-driven behavior (e.g., ~-20% to -40% day)",
    "Implausible/very high reported 20D volatility (potential data-quality issue) making signals unreliable",
    "Not oversold vs moving averages (at/above MA50 and/or MA200), weaker mean-reversion edge",
    "Missing key technical inputs (e.g., MA200 null) reducing confidence in oversold assessment"
  ]
}