{
  "status": "success",
  "provider": "codex",
  "model": "gpt-5.4",
  "priority_order": [
    "TSM",
    "AAPL",
    "MU",
    "GLDM",
    "ETHU"
  ],
  "portfolio_note": "No immediate buy should be promoted. The batch is 16/16 WAIT with bullish stances, strict cash available above buffer is only about 52k KRW, and several names have stale/degraded or missing analysis. Prioritize only confirmed triggers in existing high-quality holdings first, avoid adding MU until semiconductor concentration and cash constraints are reviewed, and refresh analysis for GLDM and ETHU before any action.",
  "reason_by_ticker": {
    "TSM": {
      "summary": "Highest ranked only on a triggered basis: strong AI/3nm thesis and clearer support/breakout triggers, but current action remains HOLD/WAIT due resistance, cooling momentum, stale execution data, and high fallback count.",
      "reason_codes": [
        "constructive_medium_term_thesis",
        "held_position",
        "clear_trigger_conditions",
        "near_resistance_after_rebound",
        "momentum_cooling",
        "stale_or_degraded_execution_data",
        "high_fallback_count",
        "wait_for_confirmation"
      ],
      "review_required": true
    },
    "AAPL": {
      "summary": "Quality held position with cash flow, buybacks, services, and China recovery support, but valuation risk, nearby resistance, stale execution data, and missing intraday confirmation keep it behind TSM until triggers confirm.",
      "reason_codes": [
        "constructive_medium_term_thesis",
        "held_position",
        "quality_cash_flow_support",
        "clear_trigger_conditions",
        "valuation_risk_elevated",
        "nearby_resistance",
        "stale_or_degraded_execution_data",
        "wait_for_confirmation"
      ],
      "review_required": true
    },
    "MU": {
      "summary": "Constructive AI/HBM and margin thesis, but it is not currently held, is extended near resistance, depends on confirmation, and would add semiconductor concentration in a cash-constrained wait-heavy batch.",
      "reason_codes": [
        "constructive_medium_term_thesis",
        "not_currently_held",
        "semiconductor_concentration_risk",
        "extended_after_sharp_rebound",
        "near_resistance",
        "cash_buffer_constraint",
        "stale_or_degraded_execution_data",
        "starter_only_if_triggered"
      ],
      "review_required": true
    },
    "GLDM": {
      "summary": "Held position but no current analysis, no triggers, and rule-only HOLD/WAIT guidance; retain as neutral watch until fresh data validates the role or risk limits.",
      "reason_codes": [
        "missing_analysis_for_held_position",
        "no_trigger_conditions",
        "rule_only_decision",
        "insufficient_data_coverage",
        "not_actionable_now",
        "neutral_watch"
      ],
      "review_required": true
    },
    "ETHU": {
      "summary": "Lowest ranked due missing analysis, no triggers, low confidence, and no actionable setup; leveraged crypto exposure should not be prioritized without fresh analysis and explicit risk review.",
      "reason_codes": [
        "missing_analysis_for_held_position",
        "no_trigger_conditions",
        "rule_only_decision",
        "insufficient_data_coverage",
        "not_actionable_now",
        "high_volatility_exposure"
      ],
      "review_required": true
    }
  }
}