{
  "status": "success",
  "provider": "codex",
  "model": "gpt-5.4",
  "priority_order": [
    "000660.KS",
    "278470.KS",
    "005930.KS",
    "010950.KS",
    "012450.KS"
  ],
  "portfolio_note": "All provided names are HOLD/WAIT with NO_TRADE ratings, and deployable cash is effectively unavailable versus the configured minimum cash buffer and minimum trade size. The arbitration order is therefore a monitoring and risk-management ranking, not a buy list. No fresh allocation should be made until cash constraints are resolved and individual price-volume triggers confirm; review remains required because every candidate carries high fallback-count/data-quality flags and the batch is uniformly wait-heavy despite bullish stances.",
  "reason_by_ticker": {
    "000660.KS": {
      "summary": "Highest near-term arbitration priority among the wait-only names: constructive held-position thesis, strong AI memory/HBM catalyst path, and the best current/triggered score profile, but no add is justified without support or breakout-volume confirmation. Review is required because fallback count is high and the name is already a meaningful holding.",
      "reason_codes": [
        "held_position_priority",
        "constructive_thesis",
        "breakout_confirmation_required",
        "volume_confirmation_missing",
        "resistance_nearby",
        "high_fallback_count",
        "no_new_cash_available"
      ],
      "review_required": true
    },
    "278470.KS": {
      "summary": "Strong fundamental and momentum thesis with the highest confidence and trigger quality, but price is extended near resistance with elevated volatility and fading volume. Keep as a high-quality watch/hold, not an immediate add, especially given cash constraints.",
      "reason_codes": [
        "constructive_fundamental_thesis",
        "high_trigger_quality",
        "extended_near_resistance",
        "volume_confirmation_missing",
        "high_volatility_requires_smaller_size",
        "held_position_hold_only",
        "no_new_cash_available"
      ],
      "review_required": true
    },
    "005930.KS": {
      "summary": "Constructive medium-term semiconductor recovery thesis with stronger liquidity and broader data coverage, but breakout above the stated trigger remains unconfirmed and momentum has contracted. Ranked behind SK hynix and APR because timing is still wait-state and it adds to existing semiconductor exposure.",
      "reason_codes": [
        "constructive_medium_term_thesis",
        "breakout_not_confirmed",
        "momentum_contraction",
        "volume_confirmation_missing",
        "semiconductor_exposure_overlap",
        "held_position_risk_lines_defined",
        "no_new_cash_available"
      ],
      "review_required": true
    },
    "010950.KS": {
      "summary": "Diversifies away from semiconductor and defense exposure and has a credible turnaround/value thesis, but current setup still needs either a KRW 124500 volume-backed breakout or a controlled support retest. Small existing position can be maintained while monitoring downside invalidation.",
      "reason_codes": [
        "diversification_benefit",
        "turnaround_thesis",
        "breakout_not_confirmed",
        "event_confirmation_pending",
        "defined_downside_invalidation",
        "small_existing_hold_position",
        "no_new_cash_available"
      ],
      "review_required": true
    },
    "012450.KS": {
      "summary": "Defense thesis remains constructive, but this is the largest current weight in the batch and volatility is high, while volume confirmation is insufficient. Conservative arbitration ranks it last to avoid adding attention or risk to an already large, event-sensitive holding unless support or breakout confirmation improves materially.",
      "reason_codes": [
        "largest_existing_weight",
        "elevated_atr_volatility",
        "volume_confirmation_missing",
        "event_risk",
        "breakout_or_support_trigger_required",
        "concentration_risk",
        "no_new_cash_available"
      ],
      "review_required": true
    }
  }
}