24Analytics24
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S&P7,443 -0.96%NDX28,604 -2.25%RUT2,942 -0.36%VIX17.510Y4.60% +1 bpTRACKDay 5ENGINEv4.8.2LIVE · 05:55:09 ET
The book

A24 Capital Fund.Not every signal, just a single mission: Outperform the S&P 500.

We do not invest in everything. $100,000 · max 5 slots · ENTRY/EARLY · score 70–80 · earnings only · no PDUFA · path exits (cut losers, let winners run). Scoreboard is excess vs SPY.

A24 Fund vs SPY
-1.98%
fund -0.82% · spy +1.16% · 9 fills
A24 Capital Fund (primary)

Behind SPY by 1.983 pts — selection/exits still short of the goal.

Starting capital
$100,000
Ending equity
$99,177
Fund return
-0.82%
SPY buy & hold
+1.16%
Excess vs SPY
-1.98%
Fills / win rate
9 closed · 44% · 0 open
Slot $20,000 · max 5 · used 4Took 9 / skipped 146 of 159 paper lines2026-06-23 → 2026-07-20Fees $197.69 · net P&L −$823.15
  • Start $100,000. Max 5 slots ($20k each). Cash when empty.
  • Only ENTRY / EARLY · score 70–80 · earnings catalyst · no PDUFA.
  • Path exits: −2% stop (after 2 sessions), time-stop day 5 unless +1% then extend.
  • Winners can run to 12 sessions with trail giveback; losers get cut.
  • Scoreboard is SPY buy-and-hold over the same window.

Path exits: stop -2% · base 5d · extend ≥1% · max 12d · trail 0.45

Equity vs SPY (event days)
DateFund equityCashOpenSPY book
2026-06-23$99,989$79,9891$100,000
2026-06-25$100,692$39,9673$100,098
2026-06-30$99,432$58,1902$101,798
2026-07-02$101,643$18,1684$101,527
2026-07-07$102,286$18,1684$101,926
2026-07-09$100,983$38,5163$102,471
2026-07-13$100,418$79,8951$102,125
2026-07-15$100,215$80,2151$102,894
2026-07-17$99,762$40,1933$101,324
2026-07-20$99,177$99,1770$101,160
Fund fills

9 closed positions that got real capital.

$20,000 per slot. Everything else was skipped.
TickerSignalScEntryExitWhy outNotionalGross %Net $
JPMentry782026-07-152026-07-20stop$20,000-2.32%−$485.29
SNAearly792026-07-172026-07-20eod$20,000-1.10%−$241.81
HBANearly742026-07-172026-07-20eod$20,000-1.50%−$321.82
GDentry742026-07-012026-07-14trail$20,000+1.71%+$320.27
JNJentry792026-06-242026-07-13max$20,000+6.96%+$1,369
UNHentry772026-07-022026-07-10time5$20,000+0.05%−$12.58
EWentry782026-06-252026-07-09trail$20,000+1.79%+$336.71
TFCentry742026-06-232026-06-30time5$20,000+0.30%+$38.37
VZearly792026-06-282026-06-30stop$20,000-9.02%−$1,826
Why capital said no
sleeve:winner · 43no_path_bars · 26need_earnings · 10score:65<70 · 9score:69<70 · 8score:68<70 · 5score:64<70 · 5score:52<70 · 4score:57<70 · 3score:59<70 · 3score:83>80 · 3pdufa_ban · 2score:61<70 · 2score:84>80 · 2score:60<70 · 2score:49<70 · 2score:86>80 · 2score:81>80 · 2score:89>80 · 2score:85>80 · 2score:93>80 · 2sleeve:pass · 2score:67<70 · 1score:66<70 · 1score:53<70 · 1score:88>80 · 1score:87>80 · 1
Scrapbook autopsy

Every paper chip — not how we size capital.

$5,000 tickets · full history · forensics only.
Scrapbook ticket
$5,000
Fees / side
$1 + 5 bps
Exit
Time stop · 5d
Round-trip flat
~$7.00

Hypothetical paper book. Educational research only — not audited brokerage P&L, not investment advice. Past paper results do not guarantee future results. Dollar totals sum fixed tickets — they are not portfolio equity. For sizing autopsy (why sequential compound misleads), see /backtests#reconciliation.

Scrapbook net
+$608.19
120 closed · WR 61%
Mean trade (headline)
+0.10%
Equal-weight per line — not a full-capital stack
Profit factor
1.06
Gross → net
+$1,449 → +$608.19
SignalNWin rateAvg net %Sum net $
entry6763%+0.51%+$1,709
early3165%+0.37%+$578.90
winner2250%-1.53%−$1,680
Lessons
  • Full book @ $5,000: net 608.19 on 120 closed tickets.
  • Winner sleeve is the structural leak (net -1679.79). Entry carries the edge (net 1709.08).
  • PDUFA/FDA catalyst book is underwater: n=23, WR 39%, net -3680.31.
  • Earnings-timed lines work: n=82, WR 67%, net 3862.74.
  • Score < 50 is toxic: n=12, net -2410.74. Hard floor applied.
  • Strict take-filters (counterfactual) keep 103/120 closed lines → net 3597.95 vs baseline 608.19.
  • We do not fund everything. A24 Capital Fund is ENTRY/EARLY · score ≥ 70 · no PDUFA · max 5 slots.
  • Scrapbook $5k tickets are autopsy. SPY excess on A24 Capital Fund is the only claim that matters.
Top scrapbook losers
TickerSigNet $Cat
UNCYwinner−$1,526PDUFA · 0d
UNCYwinner−$561.58PDUFA · 6d
VERAentry−$550.10PDUFA · 0d
MRNAentry−$466.80PDUFA · 28d
VZearly−$434.38EARNINGS · 26d
CORTentry−$385.55PDUFA · 3d
WYentry−$360.08EARNINGS · 28d
MNKDentry−$338.69PDUFA · 24d
By catalyst
TypeNNet $
PDUFA/FDA23−$3,680
(none)15+$425.76
earnings82+$3,863
Full closed ledger

120 scrapbook lines.

Includes trash we would never put in A24 Capital Fund.
TickerSignalFund?EntryExitGross %Net $Catalyst
VERAentryskip2026-07-132026-07-20-10.87%−$550.10PDUFA · 0d
BACwinnerskip2026-07-142026-07-20-0.30%−$22.25EARNINGS · 0d
COFentryskip2026-07-152026-07-20-0.41%−$27.57EARNINGS · 18d
GMentryskip2026-07-162026-07-20-2.12%−$113.10EARNINGS · 18d
USBearlyskip2026-07-102026-07-15+0.91%+$38.62EARNINGS · 6d
GSearlyskip2026-07-102026-07-15+8.91%+$438.32EARNINGS · 4d
MSearlyskip2026-07-102026-07-15+2.74%+$130.04EARNINGS · 5d
NVDAentryskip2026-07-102026-07-15+0.73%+$29.48EARNINGS · 47d
SRRKentryskip2026-07-102026-07-15-4.71%−$242.29PDUFA · 82d
PFGentryskip2026-07-102026-07-15+0.65%+$25.50EARNINGS · 24d
EOGentryskip2026-07-102026-07-15+2.51%+$118.59—
AESearlyskip2026-07-092026-07-14+0.20%+$3.15EARNINGS · 21d
BLKentryskip2026-07-092026-07-14+0.56%+$21.23EARNINGS · 12d
CTASearlyfund2026-07-062026-07-13+0.57%+$21.68EARNINGS · 9d
FASTearlyskip2026-07-062026-07-13-3.30%−$171.77EARNINGS · 8d
JPMearlyskip2026-07-062026-07-13+0.10%−$1.81EARNINGS · 8d
MTBearlyskip2026-07-062026-07-13+1.09%+$47.62EARNINGS · 9d
STTearlyskip2026-07-062026-07-13+3.36%+$160.96EARNINGS · 10d
ELVearlyfund2026-07-062026-07-13+1.98%+$91.68EARNINGS · 10d
PMentryfund2026-07-062026-07-13-1.70%−$91.94EARNINGS · 16d
WFCentryfund2026-07-062026-07-13-0.33%−$23.57EARNINGS · 11d
FTVentryfund2026-07-062026-07-13-2.20%−$117.00EARNINGS · 26d
AMZNentryfund2026-07-062026-07-13+0.48%+$17.15EARNINGS · 27d
NTRSentryfund2026-07-062026-07-13+1.33%+$59.49EARNINGS · 19d
LINentryskip2026-07-062026-07-13-1.99%−$106.21EARNINGS · 28d
PSAentryskip2026-07-062026-07-13-1.06%−$60.06EARNINGS · 26d
ARQTwinnerskip2026-07-072026-07-13+1.57%+$71.69PDUFA · 0d
VERAwinnerskip2026-07-072026-07-13-2.21%−$117.53PDUFA · 0d
KMIearlyskip2026-07-072026-07-13-0.39%−$26.39EARNINGS · 8d
SNAearlyskip2026-07-072026-07-13-1.51%−$82.55EARNINGS · 9d
RFearlyskip2026-07-072026-07-13+1.13%+$49.20EARNINGS · 10d
TFCearlyskip2026-07-072026-07-13+0.22%+$4.14EARNINGS · 10d
ABTentryskip2026-07-072026-07-13-2.71%−$142.61EARNINGS · 9d
EXPDentryfund2026-07-072026-07-13+3.82%+$183.92EARNINGS · 28d
PLDearlyskip2026-07-072026-07-13-1.91%−$102.35EARNINGS · 9d
PEPentryfund2026-07-072026-07-13-5.24%−$268.97EARNINGS · 6d
UNHentryskip2026-07-072026-07-13-0.83%−$48.67EARNINGS · 13d
PGentryfund2026-07-072026-07-13-3.74%−$193.82EARNINGS · 26d
CHDentryfund2026-07-072026-07-13-2.62%−$137.80EARNINGS · 28d
LWentryskip2026-07-072026-07-13-0.13%−$13.45EARNINGS · 21d
CHRWentryfund2026-07-072026-07-13+1.33%+$59.74EARNINGS · 26d
UNCYwinnerskip2026-07-082026-07-13-6.00%−$306.94PDUFA · 0d
BACearlyskip2026-07-082026-07-13+1.55%+$70.62EARNINGS · 6d
CELCwinnerskip2026-07-082026-07-13-4.69%−$241.50PDUFA · 9d
CIentryskip2026-07-082026-07-13+5.10%+$247.76EARNINGS · 27d
CORTentryskip2026-07-082026-07-13-7.58%−$385.55PDUFA · 3d
MRNAentryskip2026-07-082026-07-13-9.20%−$466.80PDUFA · 28d
CELCwinnerskip2026-07-032026-07-08+0.88%+$36.98PDUFA · 14d
JBHTentryskip2026-07-032026-07-08-3.28%−$171.00EARNINGS · 12d
FDSwinnerskip2026-07-032026-07-08-0.91%−$52.36EARNINGS · 1d
PEPearlyfund2026-07-022026-07-07+0.69%+$27.36EARNINGS · 7d
UNHentryfund2026-07-022026-07-07+0.89%+$37.39EARNINGS · 14d
CHRWentryskip2026-07-022026-07-07+1.05%+$45.63EARNINGS · 27d
TXTentryfund2026-07-022026-07-07-0.35%−$24.40EARNINGS · 26d
MNKDentryskip2026-07-022026-07-07-6.64%−$338.69PDUFA · 24d
LWentryskip2026-07-022026-07-07+1.31%+$58.32EARNINGS · 22d
CORTwinnerskip2026-07-022026-07-07+4.25%+$205.17PDUFA · 9d
TSLAentryskip2026-07-022026-07-07+2.40%+$113.03EARNINGS · 22d
CHDentryskip2026-07-022026-07-07+0.35%+$10.74—
UNCYwinnerskip2026-06-292026-07-06-30.39%−$1,526PDUFA · 0d
CSXentryfund2026-06-292026-07-06+1.67%+$76.28EARNINGS · 23d
UNPentryfund2026-06-292026-07-06+3.63%+$174.24EARNINGS · 24d
AOSentryskip2026-06-292026-07-06+1.25%+$55.39EARNINGS · 24d
ABTentryskip2026-06-292026-07-06+3.15%+$150.40EARNINGS · 17d
RAREentryskip2026-06-292026-07-06+9.84%+$484.93PDUFA · 55d
WATearlyskip2026-06-302026-07-06+1.03%+$44.30—
AONentryfund2026-06-302026-07-06+7.60%+$372.98EARNINGS · 24d
APDentryskip2026-06-302026-07-06+5.35%+$260.28—
URIentryskip2026-06-302026-07-06-2.93%−$153.50EARNINGS · 22d
GISwinnerskip2026-07-012026-07-06-3.90%−$201.79EARNINGS · 0d
FTVentryskip2026-07-012026-07-06+2.46%+$116.19EARNINGS · 28d
EBAYentryfund2026-07-012026-07-06+1.68%+$77.05EARNINGS · 28d
MCOentryskip2026-07-012026-07-06+5.70%+$277.94EARNINGS · 21d
VRSKentryfund2026-07-012026-07-06+1.09%+$47.61EARNINGS · 28d
GDentryfund2026-07-012026-07-06+3.74%+$180.09EARNINGS · 21d
OMCentryfund2026-07-012026-07-06+4.76%+$230.85EARNINGS · 20d
VTRSearlyskip2026-07-012026-07-06+3.83%+$184.49—
LINearlyskip2026-07-012026-07-06+1.31%+$58.29—
WFCentryskip2026-07-012026-07-06+1.76%+$80.81EARNINGS · 13d
VERAwinnerskip2026-07-012026-07-06-5.93%−$303.38PDUFA · 6d
ARQTwinnerskip2026-07-012026-07-06+0.89%+$37.48PDUFA · 0d
NKEwinnerskip2026-07-012026-07-06+0.65%+$25.49EARNINGS · 0d
FDSwinnerskip2026-06-282026-07-03+7.92%+$388.72EARNINGS · 3d
NSCearlyfund2026-06-282026-07-03+3.17%+$151.16EARNINGS · 25d
VZearlyfund2026-06-282026-07-03-8.55%−$434.38EARNINGS · 26d
ROKearlyskip2026-06-282026-07-03-1.07%−$60.66—
CORTwinnerskip2026-06-272026-07-02+6.44%+$314.96PDUFA · 14d
TRGPearlyskip2026-06-272026-07-02-5.33%−$273.28—
OKEearlyskip2026-06-272026-07-02-1.89%−$101.34—
REGearlyskip2026-06-272026-07-02+0.89%+$37.22—
LNTHwinnerskip2026-06-262026-07-01-0.77%−$45.23PDUFA · 3d
ARQTwinnerskip2026-06-262026-07-01-4.30%−$221.70PDUFA · 3d
VERAwinnerskip2026-06-262026-07-01+0.47%+$16.54PDUFA · 11d
ORLYearlyskip2026-06-262026-07-01+3.51%+$168.23EARNINGS · 26d
KOearlyskip2026-06-262026-07-01-1.62%−$88.04—
MNKDentryskip2026-06-262026-07-01-2.17%−$115.65PDUFA · 30d
VRDNentryskip2026-06-262026-07-01+3.24%+$154.93PDUFA · 4d
LHentryskip2026-06-252026-06-30+5.13%+$249.31EARNINGS · 28d
EWentryfund2026-06-252026-06-30+0.82%+$34.22EARNINGS · 28d
WYentryfund2026-06-252026-06-30-7.07%−$360.08EARNINGS · 28d
DGXentryfund2026-06-252026-06-30+2.77%+$131.36EARNINGS · 28d
FASTentryfund2026-06-252026-06-30+2.37%+$111.23EARNINGS · 18d
CZRentryskip2026-06-252026-06-30-0.76%−$44.80—
DHRearlyfund2026-06-242026-06-29+2.07%+$96.46EARNINGS · 27d
STZearlyskip2026-06-242026-06-29-2.35%−$124.41EARNINGS · 6d
JNJentryfund2026-06-242026-06-29+7.27%+$356.10EARNINGS · 21d
TMOentryfund2026-06-242026-06-29+2.89%+$137.38EARNINGS · 28d
BIIBentryskip2026-06-242026-06-29+8.54%+$419.67PDUFA · 0d
UNCYwinnerskip2026-06-232026-06-28-11.10%−$561.58PDUFA · 6d
MKCwinnerskip2026-06-232026-06-28+7.75%+$380.10EARNINGS · 2d
DRIwinnerskip2026-06-232026-06-28+1.49%+$67.28EARNINGS · 2d
MUwinnerskip2026-06-232026-06-28+7.66%+$375.78EARNINGS · 1d
GISearlyskip2026-06-232026-06-28+4.59%+$222.34EARNINGS · 8d
KMIentryfund2026-06-232026-06-28+2.00%+$92.83EARNINGS · 22d
TFCentryfund2026-06-232026-06-28+1.65%+$75.51EARNINGS · 24d
MMMentryskip2026-06-232026-06-28+1.34%+$60.01EARNINGS · 24d
ABTentryskip2026-06-232026-06-28+3.97%+$191.18EARNINGS · 23d
WBDentryskip2026-06-232026-06-28-0.52%−$33.03—
RSGentryskip2026-06-232026-06-28+3.49%+$167.23—
WMentryskip2026-06-232026-06-28+3.06%+$145.77—

JSON: /api/book · Gate separation → · Post-mortem →