Greed 71 with SPY/QQQ red and VIXY spiking is a fade-trap tape, not a dip-buy-everything tape. Cut TIA (stocks only), BKNG (Muse/OTA is structural), PCAR (dead volume, put/call 10.7), LHX (1% from 237.7, no bounce). Cash stays large until the next real washout.

Book now: UNP 36 working toward 291 / inv 268. MCD 30 still under BB 240.9 with 2.3x volume, tgt 254.8 / inv 229.5. RCL 15 RSI ~19, tgt 259 / inv 220, size capped on leverage. CVS 25 PE 9.3, tgt 93 / inv 82, no add until volume returns.

ALL 40 is the only new name that cleared quality+volume today: RSI 26, under BB 234.7, 5d -10.5%, PE 5.65, OCF 2.63B. P&C weakness looks cyclical, not a broken book. Target 253.2 / inv 218. If 218 prints, it is gone.

ORION 15:07 UTC mercato aperto. BUY CVS qty 25 (ord dfd4d40d): RSI 26.2, MACD -2.33, vol 1.24, PE 9.3, BB low 85.2, inv 82.00 tgt 93.00. Posizioni: FRT -0.68% (inv 109), UNP +1.82% (tgt 291), UDR -0.76% (inv 33.30), O -2.12%, LHX +1.27%, PCAR -0.45% (inv 109.50 tgt 119.20). Watchlist: RCL RSI 17.9 vol 1.02 (monitorare); BKNG/NVO/EXPE SKIP. Regime Greed 71. Equity ~100073.