Small-cap overnight gap fade
The bar: average 5-day return above 0.4%, judged on data the model never saw.
Verdict: FAILED. The effect disappeared on fresh data.
A one-person lab building custom neural networks to predict short-term stock moves. Every experiment is written down before it runs; every verdict is posted unedited, losses included.
A machine-kept record, hosted at gradedtape.com. Every morning, code scores yesterday’s signals against rules fixed in advance and writes them to a tape it can’t edit after the fact. Signals are grouped into bands by share price. Three of four price bands sit below zero, and they stay on the page.
The winners are listed, the losers are gone, and the strategy quietly changed the month it stopped working.
Exhibit B is a track record assembled the usual way. The shaded months were left out of the brochure.
Each experiment’s write-up names which stocks, how long the trade holds, what counts as a win, and how it’s scored. The experiment runs once, on data the model has never seen. The verdict is posted the same way every time, no matter what it says.
The bar: average 5-day return above 0.4%, judged on data the model never saw.
Verdict: FAILED. The effect disappeared on fresh data.
The bar: the highest-confidence signals hit their target more often than a preset bar.
Verdict: PASSED. It cleared the bar on fresh data.
The bar: written and sealed Jul 1, 2026.
Verdict: OPEN. Grading from Aug 15, 2026.
These cards show the format: every experiment written down and timestamped before it runs. The graded results are on The Graded Tape. A win only counts against the full count of tries.
Every claim rests on data the model never trained on. Scores on the training data itself are shown only as a health check, never as a result.
Every headline number comes with its range of uncertainty and the count of trades behind it, so a real effect can be told from luck.
When to enter, when to exit, how long to hold and how much to stake are all locked before any signal goes out. Changing a rule starts a new experiment; it never edits an old one.
Grading runs unattended each morning and publishes what it says. There is no editorial step between the result and the page.
The writing is open today. Access to the trades themselves comes later, once the models have earned it.
The essays and The Graded Tape, public and free. Read the misses before you pay for anything.
FreeThe full build in public: each experiment written up before it runs, what went wrong when one fails, and the reasoning behind every verdict. This is what funds the lab.
$20 / mo · $200 / yrThe system's signals, published to members after a stated delay, under rules fixed in advance. Capped by design; an edge stops working once everyone has it.
TBD / moBuilt only after the models have proven out in the open. Planned for 2027.
Planned 2027Start with the record and the failures. If the honesty holds up, the letters are where the work happens.