overnight drift: long META at close, exit next close (earnings: Full Transcript: Meta Platforms Q2 2026 Earnings Call) [skipped at close: stale at close-fill — wanted long, verdict now PRICED (+3.03% since close, 474m after decision), order not placed]
Signal: Right — the bullish REPRICING call was borne out; META rose from 724.5 to 737.22 (+1.76%) while open. Timing: Entry chased a move already in progress (+1.21% off the 715.62 close, +0.41% in the prior 30 minutes), and the position first gave back essentially all of that, drawing down −1.19% to roughly the prior close before the trend resumed — so the entry was early-ish relative to the eventual move but late relative to the day's initial pop. Exit: Near-optimal — +12.72 USD (+1.76%) against a best unrealized of +1.78%, capturing almost the entire available move. Dominant factor is a correct directional signal with a clean exit; the only blemish is the pre-entry drift that produced the interim drawdown, and the data here doesn't show whether a larger earnings gap had already occurred before that +1.21% reading.
📖 Glossary
S1 primary — trades the alert's primary ticker in the direction the article itself indicates; exits at the same day's close.
S2 counterparty — trades the inferred counterparty ticker (weakest signal, LLM-inferred sympathy); exits at the same day's close.
S3 peer — trades an inferred peer ticker (also LLM-inferred sympathy); exits at the same day's close.
S4 overnight — holds the primary ticker from today's close to the NEXT day's close.
Verdicts are decided top-to-bottom, first match wins; REPRICING is also the fallback when nothing else matches (2026-08-08 #220).
UNKNOWN — a needed price input (move since close or move in the last 30m) is missing.
PRICED — |move since previous close| ≥ 2.0%: already reflected in price.
REPRICING — |move in the last 30m| ≥ 0.5%: the tape is actively moving on it. Also covers a quieter move — |move since previous close| in [1.0, 2.0) with a quiet last-30m tape: still developing, not yet priced.
FRESH — |move since previous close| < 1.0%: a genuinely new move.
materiality — how market-moving the story was judged, 0-100 — alerts require materiality ≥ 70.
