AAPL, KO, MCD, F, WMT, BAC, XOM, CVX, JPM, WFC, PG, JNJ, ABT, MRK, BMY, ABBV, PEP, COST, LOW, HD, CAT, GE, HON, UPS, RTX, SBUX, PM, CSCO, AMGN, NEE

1. Price has declined at least 18% from its 52-week high and is trading within 3% of a clearly identifiable multi-year support level visible on a weekly chart — no support, no entry, full stop
2. Volume on the most recent down day must be declining relative to the 20-day average volume, signaling seller exhaustion rather than a fresh breakdown — if the crowd is still panicking, wait for them to tire out
3. The name must be a recognizable brand with a consumer or industrial footprint Dale can explain out loud to Ticker in under sixty seconds without referencing a balance sheet — if the thesis requires a spreadsheet it does not belong here

1. Trail a 14% stop from the highest closing price reached after entry, adjusted weekly every Sunday evening — let winners breathe but do not hand back more than necessary
2. If price closes below the identified support level on two consecutive days on above-average volume, the thesis is invalidated regardless of paper loss — the chart lied, get out, write it in the journal, move on
3. Take 50% of the position off the table when the trade returns to within 5% of the 52-week high or achieves a 28% gain from entry, whichever comes first — let the remaining half run with the trailing stop in place

- Base allocation: 7% of portfolio per position
- Scale-up condition: Add a second tranche of 5% if price retests the original entry level within 30 days on declining volume and the broader market has not broken its own 200-day moving average — conviction multiplier applied here, this is where Dale leans in
- Max concurrent positions: 8
- Max single-position concentration: 18% including any scaled-up tranche

- Max portfolio drawdown before going to cash: 22% — at that level something systemic is happening and stubbornness stops being conviction and starts being stupidity
- Sector concentration limit: 30% of total portfolio in any single GICS sector — the warehouse taught Dale what happens when you put everything in one aisle and a forklift goes through it
- Correlation check: No more than 3 positions may share both the same sector and a 60-day price correlation above 0.80 — owning four banks that all move together is not diversification, it is one position wearing four name tags

- (Will be updated after first week of trading)

- Initialized: 2026-03-18