{
  "status": "success",
  "provider": "codex",
  "model": "gpt-5.4",
  "priority_order": [
    "005930.KS",
    "000660.KS",
    "278470.KS",
    "064400.KS",
    "058470.KQ"
  ],
  "portfolio_note": "All five candidates are BULLISH but all five also have WAIT entry actions, so the arbitration should not force immediate deployment. Preserve the KRW 2500000 cash buffer, avoid adding multiple semiconductor names in the same batch, and require price-volume confirmation before any ADD_IF_TRIGGERED. The wait-heavy constructive batch should be reviewed for entry-action calibration before increasing order count or turnover.",
  "reason_by_ticker": {
    "005930.KS": {
      "summary": "Highest priority within the batch because it has the best current score, stronger confidence, large-cap liquidity, improving profitability and cash flow, and an existing held position. Still HOLD now: add only after resistance/volume confirmation because price is near 214500-215500 and data quality includes high fallback plus missing same-day intraday validation.",
      "reason_codes": [
        "highest_score_now",
        "large_cap_liquidity",
        "constructive_medium_term_thesis",
        "held_position_hold_now",
        "near_resistance",
        "volume_confirmation_missing",
        "entry_wait",
        "data_quality_review_required"
      ],
      "review_required": true
    },
    "000660.KS": {
      "summary": "Second priority on strong HBM and memory-cycle fundamentals, high trigger quality, and improving momentum, but position sizing should remain conservative due to high volatility, proximity to the 1100000 resistance area, and overlap with existing semiconductor exposure. HOLD now and wait for breakout confirmation or a controlled pullback.",
      "reason_codes": [
        "strong_hbm_memory_thesis",
        "high_trigger_quality",
        "held_position_hold_now",
        "high_volatility_atr",
        "resistance_near_1100000",
        "breakout_not_confirmed",
        "sector_concentration_risk",
        "entry_wait"
      ],
      "review_required": true
    },
    "278470.KS": {
      "summary": "Ranks ahead of the smaller wait names because it diversifies away from semiconductor exposure and has strong profitability, FCF, ROE, and overseas growth support. It is not an add now because price is extended, RSI is near overbought, breakout volume follow-through is incomplete, and the KRW 386000 failure level must be respected.",
      "reason_codes": [
        "diversifies_sector_exposure",
        "strong_profitability_fcf",
        "bullish_medium_term_thesis",
        "price_extended_above_moving_averages",
        "near_overbought",
        "volume_confirmation_incomplete",
        "event_confirmation_pending",
        "entry_wait"
      ],
      "review_required": true
    },
    "064400.KS": {
      "summary": "Moderate priority as a smaller held position with reasonable valuation, balance-sheet support, and AI/cloud/smart-factory catalysts, while also reducing semiconductor concentration. Timing is still unconfirmed below KRW 66600 resistance, with same-day intraday validation missing, so only a small starter would be justified after clear confirmation.",
      "reason_codes": [
        "portfolio_diversification_benefit",
        "reasonable_valuation",
        "ai_cloud_catalysts",
        "small_existing_weight",
        "resistance_nearby",
        "breakout_trigger_required",
        "intraday_validation_missing",
        "partial_sizing_only"
      ],
      "review_required": true
    },
    "058470.KQ": {
      "summary": "Lowest priority despite a quality thesis because it adds to semiconductor concentration, has legacy HOLD rather than OVERWEIGHT, higher fallback count, thin company-specific catalyst coverage, no disclosures, recent earnings deceleration, and premium valuation risk. Existing core exposure can be held, but new capital should wait for a confirmed 116800 breakout or 106000-110000 support rebound.",
      "reason_codes": [
        "legacy_hold_rating",
        "sector_concentration_risk",
        "high_fallback_count",
        "thin_company_catalyst_coverage",
        "earnings_deceleration",
        "premium_valuation_risk",
        "momentum_not_confirmed",
        "entry_wait"
      ],
      "review_required": true
    }
  }
}