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{"content_hash": "e3962ad6fd3d3bfce9ba4851179c8f801f73434c088e3415738c573b51545845", "created_at": "2026-07-09T11:09:50.659603", "evidence": {"contradicting": ["The latest signal is explicitly marked High risk."], "provenance": [{"source_id": "2396", "source_type": "signal_snapshot"}], "risks": [], "supporting": ["Momentum score is 75.0.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.10.", "News flow is active with 146 linked 7D records.", "Fundamental evidence is supportive with score 76.0."]}, "example_id": "blum-e3962ad6fd3d3bfce9ba", "messages": [{"content": "You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.", "role": "system"}, {"content": "{\"as_of\": \"2026-07-09T11:09:50.659603\", \"evidence\": [{\"type\": \"supporting\", \"value\": \"Momentum score is 75.0.\"}, {\"type\": \"supporting\", \"value\": \"Trend score is 71.7; price structure is supportive.\"}, {\"type\": \"supporting\", \"value\": \"Sentiment confirms part of the thesis with 7D sentiment 0.10.\"}, {\"type\": \"supporting\", \"value\": \"News flow is active with 146 linked 7D records.\"}, {\"type\": \"supporting\", \"value\": \"Fundamental evidence is supportive with score 76.0.\"}, {\"type\": \"contradicting\", \"value\": \"The latest signal is explicitly marked High risk.\"}, {\"type\": \"risk\", \"value\": \"Risk evidence is incomplete and requires verification.\"}], \"horizon\": \"swing\", \"market_context\": {\"macro_environment\": {}, \"market_breadth\": {}, \"market_regime\": \"Risk-Off\", \"risk_sentiment\": \"High Risk\", \"sector_performance\": {\"relative_strength\": 0.0}, \"signal_regime_adjustment\": \"No material regime adjustment beyond standard confirmation checks.\", \"timestamp\": \"2026-07-09T11:09:50.648594\", \"volatility_regime\": \"high_volatility\"}, \"portfolio_context\": {}, \"question\": \"Evaluate the evidence and state what would change the view.\", \"ticker\": \"AMAT\"}", "role": "user"}, {"content": "{\"bear_case\": [\"The latest signal is explicitly marked High risk.\"], \"bull_case\": [\"Momentum score is 75.0.\", \"Trend score is 71.7; price structure is supportive.\", \"Sentiment confirms part of the thesis with 7D sentiment 0.10.\", \"News flow is active with 146 linked 7D records.\", \"Fundamental evidence is supportive with score 76.0.\"], \"confidence\": 100.0, \"invalidation_conditions\": [\"Loss of support near 396.48.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"], \"risks\": [\"Risk evidence is incomplete and requires verification.\"], \"status\": \"watch\", \"thesis\": \"AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 65.9 and thesis conviction 72.3/100 in a Risk-Off regime. The working explanation is: Current evidence does not isolate a dominant cause. Primary support: Momentum score is 75.0. Main challenge: The latest signal is explicitly marked High risk.\", \"what_would_change_the_view\": [\"Loss of support near 396.48.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"]}", "role": "assistant"}], "outcome": {"benchmark_relative_return": null, "label": "inconclusive", "status": "inconclusive"}, "quality": {"confidence_calibration_score": 100.0, "contradiction_handling_score": 53.0, "data_quality_score": 55.0, "final_score": 73.9}, "schema_version": "blum-finance-reasoning-v1", "source_record_id": 2396, "source_revision": "973fa4a3579c8b883372e96ed6e7a6e1c99e534a", "split": "test", "task_type": "financial_thesis_generation", "thesis_lineage_id": "e91e34e5623dd395214b8b5506077628d4320d6386d2ae2ade5cf2668b12099a", "ticker": "AMAT"}
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{"content_hash": "f4d01e3a0861ddd8ce9cf2968c7482525b4e55bc3ecfeb60d9bd734af89ee840", "created_at": "2026-07-09T13:11:52.400075", "evidence": {"contradicting": ["The latest signal is explicitly marked High risk."], "provenance": [{"source_id": "2408", "source_type": "signal_snapshot"}], "risks": [], "supporting": ["Momentum score is 75.0.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.11.", "News flow is active with 147 linked 7D records.", "Fundamental evidence is supportive with score 76.0."]}, "example_id": "blum-f4d01e3a0861ddd8ce9c", "messages": [{"content": "You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.", "role": "system"}, {"content": "{\"as_of\": \"2026-07-09T13:11:52.400075\", \"evidence\": [{\"type\": \"supporting\", \"value\": \"Momentum score is 75.0.\"}, {\"type\": \"supporting\", \"value\": \"Trend score is 71.7; price structure is supportive.\"}, {\"type\": \"supporting\", \"value\": \"Sentiment confirms part of the thesis with 7D sentiment 0.11.\"}, {\"type\": \"supporting\", \"value\": \"News flow is active with 147 linked 7D records.\"}, {\"type\": \"supporting\", \"value\": \"Fundamental evidence is supportive with score 76.0.\"}, {\"type\": \"contradicting\", \"value\": \"The latest signal is explicitly marked High risk.\"}, {\"type\": \"risk\", \"value\": \"Risk evidence is incomplete and requires verification.\"}], \"horizon\": \"swing\", \"market_context\": {\"macro_environment\": {}, \"market_breadth\": {}, \"market_regime\": \"Risk-Off\", \"risk_sentiment\": \"High Risk\", \"sector_performance\": {\"relative_strength\": 0.0}, \"signal_regime_adjustment\": \"No material regime adjustment beyond standard confirmation checks.\", \"timestamp\": \"2026-07-09T13:11:52.383210\", \"volatility_regime\": \"high_volatility\"}, \"portfolio_context\": {}, \"question\": \"Evaluate the evidence and state what would change the view.\", \"ticker\": \"AMAT\"}", "role": "user"}, {"content": "{\"bear_case\": [\"The latest signal is explicitly marked High risk.\"], \"bull_case\": [\"Momentum score is 75.0.\", \"Trend score is 71.7; price structure is supportive.\", \"Sentiment confirms part of the thesis with 7D sentiment 0.11.\", \"News flow is active with 147 linked 7D records.\", \"Fundamental evidence is supportive with score 76.0.\"], \"confidence\": 100.0, \"invalidation_conditions\": [\"Loss of support near 396.48.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"], \"risks\": [\"Risk evidence is incomplete and requires verification.\"], \"status\": \"watch\", \"thesis\": \"AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 66.0 and thesis conviction 72.3/100 in a Risk-Off regime. The working explanation is: Current evidence does not isolate a dominant cause. Primary support: Momentum score is 75.0. Main challenge: The latest signal is explicitly marked High risk.\", \"what_would_change_the_view\": [\"Loss of support near 396.48.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"]}", "role": "assistant"}], "outcome": {"benchmark_relative_return": null, "label": "inconclusive", "status": "inconclusive"}, "quality": {"confidence_calibration_score": 100.0, "contradiction_handling_score": 53.0, "data_quality_score": 55.0, "final_score": 73.9}, "schema_version": "blum-finance-reasoning-v1", "source_record_id": 2408, "source_revision": "973fa4a3579c8b883372e96ed6e7a6e1c99e534a", "split": "test", "task_type": "financial_thesis_generation", "thesis_lineage_id": "166d99e8cf65b32bd501a1bb3fe7d358c3bc53f49509608d0d7de1dbb0880c74", "ticker": "AMAT"}
{"content_hash": "7af49e58aa0fca17c572eb7f8334efd38948fac4edf6211ebde925c3c8afa8df", "created_at": "2026-07-09T14:13:10.998849", "evidence": {"contradicting": ["The latest signal is explicitly marked High risk."], "provenance": [{"source_id": "2412", "source_type": "signal_snapshot"}], "risks": [], "supporting": ["Momentum score is 75.0.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.11.", "News flow is active with 147 linked 7D records.", "Fundamental evidence is supportive with score 76.0."]}, "example_id": "blum-7af49e58aa0fca17c572", "messages": [{"content": "You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.", "role": "system"}, {"content": "{\"as_of\": \"2026-07-09T14:13:10.998849\", \"evidence\": [{\"type\": \"supporting\", \"value\": \"Momentum score is 75.0.\"}, {\"type\": \"supporting\", \"value\": \"Trend score is 71.7; price structure is supportive.\"}, {\"type\": \"supporting\", \"value\": \"Sentiment confirms part of the thesis with 7D sentiment 0.11.\"}, {\"type\": \"supporting\", \"value\": \"News flow is active with 147 linked 7D records.\"}, {\"type\": \"supporting\", \"value\": \"Fundamental evidence is supportive with score 76.0.\"}, {\"type\": \"contradicting\", \"value\": \"The latest signal is explicitly marked High risk.\"}, {\"type\": \"risk\", \"value\": \"Risk evidence is incomplete and requires verification.\"}], \"horizon\": \"swing\", \"market_context\": {\"macro_environment\": {}, \"market_breadth\": {}, \"market_regime\": \"Risk-Off\", \"risk_sentiment\": \"High Risk\", \"sector_performance\": {\"relative_strength\": 0.0}, \"signal_regime_adjustment\": \"No material regime adjustment beyond standard confirmation checks.\", \"timestamp\": \"2026-07-09T14:13:10.992993\", \"volatility_regime\": \"high_volatility\"}, \"portfolio_context\": {}, \"question\": \"Evaluate the evidence and state what would change the view.\", \"ticker\": \"AMAT\"}", "role": "user"}, {"content": "{\"bear_case\": [\"The latest signal is explicitly marked High risk.\"], \"bull_case\": [\"Momentum score is 75.0.\", \"Trend score is 71.7; price structure is supportive.\", \"Sentiment confirms part of the thesis with 7D sentiment 0.11.\", \"News flow is active with 147 linked 7D records.\", \"Fundamental evidence is supportive with score 76.0.\"], \"confidence\": 100.0, \"invalidation_conditions\": [\"Loss of support near 396.48.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"], \"risks\": [\"Risk evidence is incomplete and requires verification.\"], \"status\": \"watch\", \"thesis\": \"AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 66.0 and thesis conviction 72.3/100 in a Risk-Off regime. The working explanation is: Current evidence does not isolate a dominant cause. Primary support: Momentum score is 75.0. Main challenge: The latest signal is explicitly marked High risk.\", \"what_would_change_the_view\": [\"Loss of support near 396.48.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"]}", "role": "assistant"}], "outcome": {"benchmark_relative_return": null, "label": "inconclusive", "status": "inconclusive"}, "quality": {"confidence_calibration_score": 100.0, "contradiction_handling_score": 53.0, "data_quality_score": 55.0, "final_score": 73.9}, "schema_version": "blum-finance-reasoning-v1", "source_record_id": 2412, "source_revision": "973fa4a3579c8b883372e96ed6e7a6e1c99e534a", "split": "test", "task_type": "financial_thesis_generation", "thesis_lineage_id": "2bffef062810bffee6aae9b6272cd2ad8d2832578945b3bb89ff2be49824049b", "ticker": "AMAT"}
{"content_hash": "2b331e952441cf975d4952181194839267d5a6b83b9e65cf5d478c759374f109", "created_at": "2026-07-09T14:54:08.038004", "evidence": {"contradicting": ["The latest signal is explicitly marked High risk."], "provenance": [{"source_id": "2416", "source_type": "signal_snapshot"}], "risks": [], "supporting": ["Momentum score is 75.0.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.11.", "News flow is active with 148 linked 7D records.", "Fundamental evidence is supportive with score 76.0."]}, "example_id": "blum-2b331e952441cf975d49", "messages": [{"content": "You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.", "role": "system"}, {"content": "{\"as_of\": \"2026-07-09T14:54:08.038004\", \"evidence\": [{\"type\": \"supporting\", \"value\": \"Momentum score is 75.0.\"}, {\"type\": \"supporting\", \"value\": \"Trend score is 71.7; price structure is supportive.\"}, {\"type\": \"supporting\", \"value\": \"Sentiment confirms part of the thesis with 7D sentiment 0.11.\"}, {\"type\": \"supporting\", \"value\": \"News flow is active with 148 linked 7D records.\"}, {\"type\": \"supporting\", \"value\": \"Fundamental evidence is supportive with score 76.0.\"}, {\"type\": \"contradicting\", \"value\": \"The latest signal is explicitly marked High risk.\"}, {\"type\": \"risk\", \"value\": \"Risk evidence is incomplete and requires verification.\"}], \"horizon\": \"swing\", \"market_context\": {\"macro_environment\": {}, \"market_breadth\": {}, \"market_regime\": \"Risk-Off\", \"risk_sentiment\": \"High Risk\", \"sector_performance\": {\"relative_strength\": 0.0}, \"signal_regime_adjustment\": \"No material regime adjustment beyond standard confirmation checks.\", \"timestamp\": \"2026-07-09T14:54:08.032016\", \"volatility_regime\": \"high_volatility\"}, \"portfolio_context\": {}, \"question\": \"Evaluate the evidence and state what would change the view.\", \"ticker\": \"AMAT\"}", "role": "user"}, {"content": "{\"bear_case\": [\"The latest signal is explicitly marked High risk.\"], \"bull_case\": [\"Momentum score is 75.0.\", \"Trend score is 71.7; price structure is supportive.\", \"Sentiment confirms part of the thesis with 7D sentiment 0.11.\", \"News flow is active with 148 linked 7D records.\", \"Fundamental evidence is supportive with score 76.0.\"], \"confidence\": 100.0, \"invalidation_conditions\": [\"Loss of support near 396.48.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"], \"risks\": [\"Risk evidence is incomplete and requires verification.\"], \"status\": \"watch\", \"thesis\": \"AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 66.1 and thesis conviction 72.4/100 in a Risk-Off regime. The working explanation is: Current evidence does not isolate a dominant cause. Primary support: Momentum score is 75.0. Main challenge: The latest signal is explicitly marked High risk.\", \"what_would_change_the_view\": [\"Loss of support near 396.48.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"]}", "role": "assistant"}], "outcome": {"benchmark_relative_return": null, "label": "inconclusive", "status": "inconclusive"}, "quality": {"confidence_calibration_score": 100.0, "contradiction_handling_score": 53.0, "data_quality_score": 55.0, "final_score": 73.9}, "schema_version": "blum-finance-reasoning-v1", "source_record_id": 2416, "source_revision": "973fa4a3579c8b883372e96ed6e7a6e1c99e534a", "split": "test", "task_type": "financial_thesis_generation", "thesis_lineage_id": "43a0380651f964c6d48c3d8fb010ae7256c711213f21d4b451d33a36424a9fc7", "ticker": "AMAT"}
{"content_hash": "170b203eed90cead942b406ee77ac720ae710b0859dd6b6d2543843809ab6a6c", "created_at": "2026-07-09T15:35:04.532039", "evidence": {"contradicting": ["The latest signal is explicitly marked High risk."], "provenance": [{"source_id": "2420", "source_type": "signal_snapshot"}], "risks": [], "supporting": ["Momentum score is 75.0.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.11.", "News flow is active with 148 linked 7D records.", "Fundamental evidence is supportive with score 76.0."]}, "example_id": "blum-170b203eed90cead942b", "messages": [{"content": "You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.", "role": "system"}, {"content": "{\"as_of\": \"2026-07-09T15:35:04.532039\", \"evidence\": [{\"type\": \"supporting\", \"value\": \"Momentum score is 75.0.\"}, {\"type\": \"supporting\", \"value\": \"Trend score is 71.7; price structure is supportive.\"}, {\"type\": \"supporting\", \"value\": \"Sentiment confirms part of the thesis with 7D sentiment 0.11.\"}, {\"type\": \"supporting\", \"value\": \"News flow is active with 148 linked 7D records.\"}, {\"type\": \"supporting\", \"value\": \"Fundamental evidence is supportive with score 76.0.\"}, {\"type\": \"contradicting\", \"value\": \"The latest signal is explicitly marked High risk.\"}, {\"type\": \"risk\", \"value\": \"Risk evidence is incomplete and requires verification.\"}], \"horizon\": \"swing\", \"market_context\": {\"macro_environment\": {}, \"market_breadth\": {}, \"market_regime\": \"Risk-Off\", \"risk_sentiment\": \"High Risk\", \"sector_performance\": {\"relative_strength\": 0.0}, \"signal_regime_adjustment\": \"No material regime adjustment beyond standard confirmation checks.\", \"timestamp\": \"2026-07-09T15:35:04.527005\", \"volatility_regime\": \"high_volatility\"}, \"portfolio_context\": {}, \"question\": \"Evaluate the evidence and state what would change the view.\", \"ticker\": \"AMAT\"}", "role": "user"}, {"content": "{\"bear_case\": [\"The latest signal is explicitly marked High risk.\"], \"bull_case\": [\"Momentum score is 75.0.\", \"Trend score is 71.7; price structure is supportive.\", \"Sentiment confirms part of the thesis with 7D sentiment 0.11.\", \"News flow is active with 148 linked 7D records.\", \"Fundamental evidence is supportive with score 76.0.\"], \"confidence\": 100.0, \"invalidation_conditions\": [\"Loss of support near 396.48.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"], \"risks\": [\"Risk evidence is incomplete and requires verification.\"], \"status\": \"watch\", \"thesis\": \"AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 66.0 and thesis conviction 72.3/100 in a Risk-Off regime. The working explanation is: Current evidence does not isolate a dominant cause. Primary support: Momentum score is 75.0. Main challenge: The latest signal is explicitly marked High risk.\", \"what_would_change_the_view\": [\"Loss of support near 396.48.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"]}", "role": "assistant"}], "outcome": {"benchmark_relative_return": null, "label": "inconclusive", "status": "inconclusive"}, "quality": {"confidence_calibration_score": 100.0, "contradiction_handling_score": 53.0, "data_quality_score": 55.0, "final_score": 73.9}, "schema_version": "blum-finance-reasoning-v1", "source_record_id": 2420, "source_revision": "973fa4a3579c8b883372e96ed6e7a6e1c99e534a", "split": "test", "task_type": "financial_thesis_generation", "thesis_lineage_id": "e3b652b99f67466a900e21f0c028266693eb111969a3d5af18e8373899604a0f", "ticker": "AMAT"}
{"content_hash": "dd3b52b8034b40cadac73b6049150087ad3568c1fdb5569c194df4746ddedfc0", "created_at": "2026-07-09T16:16:03.719132", "evidence": {"contradicting": ["The latest signal is explicitly marked High risk."], "provenance": [{"source_id": "2424", "source_type": "signal_snapshot"}], "risks": [], "supporting": ["Momentum score is 75.0.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.12.", "News flow is active with 148 linked 7D records.", "Fundamental evidence is supportive with score 76.0."]}, "example_id": "blum-dd3b52b8034b40cadac7", "messages": [{"content": "You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.", "role": "system"}, {"content": "{\"as_of\": \"2026-07-09T16:16:03.719132\", \"evidence\": [{\"type\": \"supporting\", \"value\": \"Momentum score is 75.0.\"}, {\"type\": \"supporting\", \"value\": \"Trend score is 71.7; price structure is supportive.\"}, {\"type\": \"supporting\", \"value\": \"Sentiment confirms part of the thesis with 7D sentiment 0.12.\"}, {\"type\": \"supporting\", \"value\": \"News flow is active with 148 linked 7D records.\"}, {\"type\": \"supporting\", \"value\": \"Fundamental evidence is supportive with score 76.0.\"}, {\"type\": \"contradicting\", \"value\": \"The latest signal is explicitly marked High risk.\"}, {\"type\": \"risk\", \"value\": \"Risk evidence is incomplete and requires verification.\"}], \"horizon\": \"swing\", \"market_context\": {\"macro_environment\": {}, \"market_breadth\": {}, \"market_regime\": \"Risk-Off\", \"risk_sentiment\": \"High Risk\", \"sector_performance\": {\"relative_strength\": 0.0}, \"signal_regime_adjustment\": \"No material regime adjustment beyond standard confirmation checks.\", \"timestamp\": \"2026-07-09T16:16:03.712807\", \"volatility_regime\": \"high_volatility\"}, \"portfolio_context\": {}, \"question\": \"Evaluate the evidence and state what would change the view.\", \"ticker\": \"AMAT\"}", "role": "user"}, {"content": "{\"bear_case\": [\"The latest signal is explicitly marked High risk.\"], \"bull_case\": [\"Momentum score is 75.0.\", \"Trend score is 71.7; price structure is supportive.\", \"Sentiment confirms part of the thesis with 7D sentiment 0.12.\", \"News flow is active with 148 linked 7D records.\", \"Fundamental evidence is supportive with score 76.0.\"], \"confidence\": 100.0, \"invalidation_conditions\": [\"Loss of support near 396.48.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"], \"risks\": [\"Risk evidence is incomplete and requires verification.\"], \"status\": \"watch\", \"thesis\": \"AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 66.1 and thesis conviction 72.4/100 in a Risk-Off regime. The working explanation is: Current evidence does not isolate a dominant cause. Primary support: Momentum score is 75.0. Main challenge: The latest signal is explicitly marked High risk.\", \"what_would_change_the_view\": [\"Loss of support near 396.48.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"]}", "role": "assistant"}], "outcome": {"benchmark_relative_return": null, "label": "inconclusive", "status": "inconclusive"}, "quality": {"confidence_calibration_score": 100.0, "contradiction_handling_score": 53.0, "data_quality_score": 55.0, "final_score": 73.9}, "schema_version": "blum-finance-reasoning-v1", "source_record_id": 2424, "source_revision": "973fa4a3579c8b883372e96ed6e7a6e1c99e534a", "split": "test", "task_type": "financial_thesis_generation", "thesis_lineage_id": "35902ab200180a75e509adda149b02b99f6489daba6b6a8eca003fe6f39a6bfc", "ticker": "AMAT"}
{"content_hash": "25dea237c93f7758215de802957e24c8cb20009f5a42f72569fd8f37d00669cf", "created_at": "2026-07-09T17:17:03.459113", "evidence": {"contradicting": ["Price is weakening while recent sentiment is positive.", "The latest signal is explicitly marked High risk."], "provenance": [{"source_id": "2428", "source_type": "signal_snapshot"}], "risks": [], "supporting": ["Momentum score is 75.0.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.13.", "News flow is active with 150 linked 7D records.", "Fundamental evidence is supportive with score 76.0."]}, "example_id": "blum-25dea237c93f7758215d", "messages": [{"content": "You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.", "role": "system"}, {"content": "{\"as_of\": \"2026-07-09T17:17:03.459113\", \"evidence\": [{\"type\": \"supporting\", \"value\": \"Momentum score is 75.0.\"}, {\"type\": \"supporting\", \"value\": \"Trend score is 71.7; price structure is supportive.\"}, {\"type\": \"supporting\", \"value\": \"Sentiment confirms part of the thesis with 7D sentiment 0.13.\"}, {\"type\": \"supporting\", \"value\": \"News flow is active with 150 linked 7D records.\"}, {\"type\": \"supporting\", \"value\": \"Fundamental evidence is supportive with score 76.0.\"}, {\"type\": \"contradicting\", \"value\": \"Price is weakening while recent sentiment is positive.\"}, {\"type\": \"contradicting\", \"value\": \"The latest signal is explicitly marked High risk.\"}, {\"type\": \"risk\", \"value\": \"Risk evidence is incomplete and requires verification.\"}], \"horizon\": \"swing\", \"market_context\": {\"macro_environment\": {}, \"market_breadth\": {}, \"market_regime\": \"Risk-Off\", \"risk_sentiment\": \"High Risk\", \"sector_performance\": {\"relative_strength\": 0.0}, \"signal_regime_adjustment\": \"No material regime adjustment beyond standard confirmation checks.\", \"timestamp\": \"2026-07-09T17:17:03.436841\", \"volatility_regime\": \"high_volatility\"}, \"portfolio_context\": {}, \"question\": \"Evaluate the evidence and state what would change the view.\", \"ticker\": \"AMAT\"}", "role": "user"}, {"content": "{\"bear_case\": [\"Price is weakening while recent sentiment is positive.\", \"The latest signal is explicitly marked High risk.\"], \"bull_case\": [\"Momentum score is 75.0.\", \"Trend score is 71.7; price structure is supportive.\", \"Sentiment confirms part of the thesis with 7D sentiment 0.13.\", \"News flow is active with 150 linked 7D records.\", \"Fundamental evidence is supportive with score 76.0.\"], \"confidence\": 100.0, \"invalidation_conditions\": [\"Loss of support near 396.48.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"], \"risks\": [\"Risk evidence is incomplete and requires verification.\"], \"status\": \"watch\", \"thesis\": \"AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 66.2 and thesis conviction 69.9/100 in a Risk-Off regime. The working explanation is: The market may be discounting risks that the positive narrative has not absorbed. Primary support: Momentum score is 75.0. Main challenge: Price is weakening while recent sentiment is positive.\", \"what_would_change_the_view\": [\"Loss of support near 396.48.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"]}", "role": "assistant"}], "outcome": {"benchmark_relative_return": null, "label": "inconclusive", "status": "inconclusive"}, "quality": {"confidence_calibration_score": 100.0, "contradiction_handling_score": 61.0, "data_quality_score": 55.0, "final_score": 75.66}, "schema_version": "blum-finance-reasoning-v1", "source_record_id": 2428, "source_revision": "973fa4a3579c8b883372e96ed6e7a6e1c99e534a", "split": "test", "task_type": "financial_thesis_generation", "thesis_lineage_id": "c51c0e78206c508592f6a617e30c2e54ce0dfc06607b12cc605371d655665c90", "ticker": "AMAT"}
{"content_hash": "562234a0e2460e5b7a04d0e406dc2917cb94012bea2cfa16c0346b0ecb4105aa", "created_at": "2026-07-09T17:58:17.923163", "evidence": {"contradicting": ["Price is weakening while recent sentiment is positive.", "The latest signal is explicitly marked High risk."], "provenance": [{"source_id": "2432", "source_type": "signal_snapshot"}], "risks": [], "supporting": ["Momentum score is 75.0.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.14.", "News flow is active with 150 linked 7D records.", "Fundamental evidence is supportive with score 76.0."]}, "example_id": "blum-562234a0e2460e5b7a04", "messages": [{"content": "You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.", "role": "system"}, {"content": "{\"as_of\": \"2026-07-09T17:58:17.923163\", \"evidence\": [{\"type\": \"supporting\", \"value\": \"Momentum score is 75.0.\"}, {\"type\": \"supporting\", \"value\": \"Trend score is 71.7; price structure is supportive.\"}, {\"type\": \"supporting\", \"value\": \"Sentiment confirms part of the thesis with 7D sentiment 0.14.\"}, {\"type\": \"supporting\", \"value\": \"News flow is active with 150 linked 7D records.\"}, {\"type\": \"supporting\", \"value\": \"Fundamental evidence is supportive with score 76.0.\"}, {\"type\": \"contradicting\", \"value\": \"Price is weakening while recent sentiment is positive.\"}, {\"type\": \"contradicting\", \"value\": \"The latest signal is explicitly marked High risk.\"}, {\"type\": \"risk\", \"value\": \"Risk evidence is incomplete and requires verification.\"}], \"horizon\": \"swing\", \"market_context\": {\"macro_environment\": {}, \"market_breadth\": {}, \"market_regime\": \"Risk-Off\", \"risk_sentiment\": \"High Risk\", \"sector_performance\": {\"relative_strength\": 0.0}, \"signal_regime_adjustment\": \"No material regime adjustment beyond standard confirmation checks.\", \"timestamp\": \"2026-07-09T17:58:17.916078\", \"volatility_regime\": \"high_volatility\"}, \"portfolio_context\": {}, \"question\": \"Evaluate the evidence and state what would change the view.\", \"ticker\": \"AMAT\"}", "role": "user"}, {"content": "{\"bear_case\": [\"Price is weakening while recent sentiment is positive.\", \"The latest signal is explicitly marked High risk.\"], \"bull_case\": [\"Momentum score is 75.0.\", \"Trend score is 71.7; price structure is supportive.\", \"Sentiment confirms part of the thesis with 7D sentiment 0.14.\", \"News flow is active with 150 linked 7D records.\", \"Fundamental evidence is supportive with score 76.0.\"], \"confidence\": 100.0, \"invalidation_conditions\": [\"Loss of support near 396.48.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"], \"risks\": [\"Risk evidence is incomplete and requires verification.\"], \"status\": \"watch\", \"thesis\": \"AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 66.3 and thesis conviction 70.0/100 in a Risk-Off regime. The working explanation is: The market may be discounting risks that the positive narrative has not absorbed. Primary support: Momentum score is 75.0. Main challenge: Price is weakening while recent sentiment is positive.\", \"what_would_change_the_view\": [\"Loss of support near 396.48.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"]}", "role": "assistant"}], "outcome": {"benchmark_relative_return": null, "label": "inconclusive", "status": "inconclusive"}, "quality": {"confidence_calibration_score": 100.0, "contradiction_handling_score": 61.0, "data_quality_score": 55.0, "final_score": 75.66}, "schema_version": "blum-finance-reasoning-v1", "source_record_id": 2432, "source_revision": "973fa4a3579c8b883372e96ed6e7a6e1c99e534a", "split": "test", "task_type": "financial_thesis_generation", "thesis_lineage_id": "c2646d178a18abcff03f25951dc51c539166144a9811a979bb8a9cbb7894f1de", "ticker": "AMAT"}
{"content_hash": "10920ff2a576919908447ccf72fd779acd7699ce0608433e2284aedbce0e0285", "created_at": "2026-07-09T18:38:50.381846", "evidence": {"contradicting": ["Price is weakening while recent sentiment is positive.", "The latest signal is explicitly marked High risk."], "provenance": [{"source_id": "2436", "source_type": "signal_snapshot"}], "risks": [], "supporting": ["Momentum score is 75.0.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.15.", "News flow is active with 149 linked 7D records.", "Fundamental evidence is supportive with score 76.0."]}, "example_id": "blum-10920ff2a57691990844", "messages": [{"content": "You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.", "role": "system"}, {"content": "{\"as_of\": \"2026-07-09T18:38:50.381846\", \"evidence\": [{\"type\": \"supporting\", \"value\": \"Momentum score is 75.0.\"}, {\"type\": \"supporting\", \"value\": \"Trend score is 71.7; price structure is supportive.\"}, {\"type\": \"supporting\", \"value\": \"Sentiment confirms part of the thesis with 7D sentiment 0.15.\"}, {\"type\": \"supporting\", \"value\": \"News flow is active with 149 linked 7D records.\"}, {\"type\": \"supporting\", \"value\": \"Fundamental evidence is supportive with score 76.0.\"}, {\"type\": \"contradicting\", \"value\": \"Price is weakening while recent sentiment is positive.\"}, {\"type\": \"contradicting\", \"value\": \"The latest signal is explicitly marked High risk.\"}, {\"type\": \"risk\", \"value\": \"Risk evidence is incomplete and requires verification.\"}], \"horizon\": \"swing\", \"market_context\": {\"macro_environment\": {}, \"market_breadth\": {}, \"market_regime\": \"Risk-Off\", \"risk_sentiment\": \"High Risk\", \"sector_performance\": {\"relative_strength\": 0.0}, \"signal_regime_adjustment\": \"No material regime adjustment beyond standard confirmation checks.\", \"timestamp\": \"2026-07-09T18:38:50.373612\", \"volatility_regime\": \"high_volatility\"}, \"portfolio_context\": {}, \"question\": \"Evaluate the evidence and state what would change the view.\", \"ticker\": \"AMAT\"}", "role": "user"}, {"content": "{\"bear_case\": [\"Price is weakening while recent sentiment is positive.\", \"The latest signal is explicitly marked High risk.\"], \"bull_case\": [\"Momentum score is 75.0.\", \"Trend score is 71.7; price structure is supportive.\", \"Sentiment confirms part of the thesis with 7D sentiment 0.15.\", \"News flow is active with 149 linked 7D records.\", \"Fundamental evidence is supportive with score 76.0.\"], \"confidence\": 100.0, \"invalidation_conditions\": [\"Loss of support near 396.48.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"], \"risks\": [\"Risk evidence is incomplete and requires verification.\"], \"status\": \"watch\", \"thesis\": \"AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 66.4 and thesis conviction 70.1/100 in a Risk-Off regime. The working explanation is: The market may be discounting risks that the positive narrative has not absorbed. Primary support: Momentum score is 75.0. Main challenge: Price is weakening while recent sentiment is positive.\", \"what_would_change_the_view\": [\"Loss of support near 396.48.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"]}", "role": "assistant"}], "outcome": {"benchmark_relative_return": null, "label": "inconclusive", "status": "inconclusive"}, "quality": {"confidence_calibration_score": 100.0, "contradiction_handling_score": 61.0, "data_quality_score": 55.0, "final_score": 75.66}, "schema_version": "blum-finance-reasoning-v1", "source_record_id": 2436, "source_revision": "973fa4a3579c8b883372e96ed6e7a6e1c99e534a", "split": "test", "task_type": "financial_thesis_generation", "thesis_lineage_id": "8ad7707999dd6b4b2c8cef0402764d3d7d89aba32b4e7aa9dcba56d5da62e95d", "ticker": "AMAT"}
{"content_hash": "874ee1debb0da2780d5adf375122113a6035f81b4ca61c7a63c0b850e75d63d3", "created_at": "2026-07-09T19:19:24.562458", "evidence": {"contradicting": ["Price is weakening while recent sentiment is positive.", "The latest signal is explicitly marked High risk."], "provenance": [{"source_id": "2440", "source_type": "signal_snapshot"}], "risks": [], "supporting": ["Momentum score is 75.0.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.15.", "News flow is active with 149 linked 7D records.", "Fundamental evidence is supportive with score 76.0."]}, "example_id": "blum-874ee1debb0da2780d5a", "messages": [{"content": "You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.", "role": "system"}, {"content": "{\"as_of\": \"2026-07-09T19:19:24.562458\", \"evidence\": [{\"type\": \"supporting\", \"value\": \"Momentum score is 75.0.\"}, {\"type\": \"supporting\", \"value\": \"Trend score is 71.7; price structure is supportive.\"}, {\"type\": \"supporting\", \"value\": \"Sentiment confirms part of the thesis with 7D sentiment 0.15.\"}, {\"type\": \"supporting\", \"value\": \"News flow is active with 149 linked 7D records.\"}, {\"type\": \"supporting\", \"value\": \"Fundamental evidence is supportive with score 76.0.\"}, {\"type\": \"contradicting\", \"value\": \"Price is weakening while recent sentiment is positive.\"}, {\"type\": \"contradicting\", \"value\": \"The latest signal is explicitly marked High risk.\"}, {\"type\": \"risk\", \"value\": \"Risk evidence is incomplete and requires verification.\"}], \"horizon\": \"swing\", \"market_context\": {\"macro_environment\": {}, \"market_breadth\": {}, \"market_regime\": \"Risk-Off\", \"risk_sentiment\": \"High Risk\", \"sector_performance\": {\"relative_strength\": 0.0}, \"signal_regime_adjustment\": \"No material regime adjustment beyond standard confirmation checks.\", \"timestamp\": \"2026-07-09T19:19:24.549263\", \"volatility_regime\": \"high_volatility\"}, \"portfolio_context\": {}, \"question\": \"Evaluate the evidence and state what would change the view.\", \"ticker\": \"AMAT\"}", "role": "user"}, {"content": "{\"bear_case\": [\"Price is weakening while recent sentiment is positive.\", \"The latest signal is explicitly marked High risk.\"], \"bull_case\": [\"Momentum score is 75.0.\", \"Trend score is 71.7; price structure is supportive.\", \"Sentiment confirms part of the thesis with 7D sentiment 0.15.\", \"News flow is active with 149 linked 7D records.\", \"Fundamental evidence is supportive with score 76.0.\"], \"confidence\": 100.0, \"invalidation_conditions\": [\"Loss of support near 396.48.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"], \"risks\": [\"Risk evidence is incomplete and requires verification.\"], \"status\": \"watch\", \"thesis\": \"AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 66.4 and thesis conviction 70.1/100 in a Risk-Off regime. The working explanation is: The market may be discounting risks that the positive narrative has not absorbed. Primary support: Momentum score is 75.0. Main challenge: Price is weakening while recent sentiment is positive.\", \"what_would_change_the_view\": [\"Loss of support near 396.48.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"]}", "role": "assistant"}], "outcome": {"benchmark_relative_return": null, "label": "inconclusive", "status": "inconclusive"}, "quality": {"confidence_calibration_score": 100.0, "contradiction_handling_score": 61.0, "data_quality_score": 55.0, "final_score": 75.66}, "schema_version": "blum-finance-reasoning-v1", "source_record_id": 2440, "source_revision": "973fa4a3579c8b883372e96ed6e7a6e1c99e534a", "split": "test", "task_type": "financial_thesis_generation", "thesis_lineage_id": "038b60e6ad5aae1069799596d547c8feda78c9a643981defb49a4a601a45aad3", "ticker": "AMAT"}
{"content_hash": "2591cbc83e8270f80184b7c3e06f8b5dd3c3b6e4aa504bf0dbfb17a5e7b7e4dd", "created_at": "2026-07-09T20:01:23.291997", "evidence": {"contradicting": ["Price is weakening while recent sentiment is positive.", "The latest signal is explicitly marked High risk."], "provenance": [{"source_id": "2444", "source_type": "signal_snapshot"}], "risks": [], "supporting": ["Momentum score is 75.0.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.15.", "News flow is active with 149 linked 7D records.", "Fundamental evidence is supportive with score 76.0."]}, "example_id": "blum-2591cbc83e8270f80184", "messages": [{"content": "You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.", "role": "system"}, {"content": "{\"as_of\": \"2026-07-09T20:01:23.291997\", \"evidence\": [{\"type\": \"supporting\", \"value\": \"Momentum score is 75.0.\"}, {\"type\": \"supporting\", \"value\": \"Trend score is 71.7; price structure is supportive.\"}, {\"type\": \"supporting\", \"value\": \"Sentiment confirms part of the thesis with 7D sentiment 0.15.\"}, {\"type\": \"supporting\", \"value\": \"News flow is active with 149 linked 7D records.\"}, {\"type\": \"supporting\", \"value\": \"Fundamental evidence is supportive with score 76.0.\"}, {\"type\": \"contradicting\", \"value\": \"Price is weakening while recent sentiment is positive.\"}, {\"type\": \"contradicting\", \"value\": \"The latest signal is explicitly marked High risk.\"}, {\"type\": \"risk\", \"value\": \"Risk evidence is incomplete and requires verification.\"}], \"horizon\": \"swing\", \"market_context\": {\"macro_environment\": {}, \"market_breadth\": {}, \"market_regime\": \"Risk-Off\", \"risk_sentiment\": \"High Risk\", \"sector_performance\": {\"relative_strength\": 0.0}, \"signal_regime_adjustment\": \"No material regime adjustment beyond standard confirmation checks.\", \"timestamp\": \"2026-07-09T20:01:23.285536\", \"volatility_regime\": \"high_volatility\"}, \"portfolio_context\": {}, \"question\": \"Evaluate the evidence and state what would change the view.\", \"ticker\": \"AMAT\"}", "role": "user"}, {"content": "{\"bear_case\": [\"Price is weakening while recent sentiment is positive.\", \"The latest signal is explicitly marked High risk.\"], \"bull_case\": [\"Momentum score is 75.0.\", \"Trend score is 71.7; price structure is supportive.\", \"Sentiment confirms part of the thesis with 7D sentiment 0.15.\", \"News flow is active with 149 linked 7D records.\", \"Fundamental evidence is supportive with score 76.0.\"], \"confidence\": 100.0, \"invalidation_conditions\": [\"Loss of support near 396.48.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"], \"risks\": [\"Risk evidence is incomplete and requires verification.\"], \"status\": \"watch\", \"thesis\": \"AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 66.4 and thesis conviction 70.1/100 in a Risk-Off regime. The working explanation is: The market may be discounting risks that the positive narrative has not absorbed. Primary support: Momentum score is 75.0. Main challenge: Price is weakening while recent sentiment is positive.\", \"what_would_change_the_view\": [\"Loss of support near 396.48.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"]}", "role": "assistant"}], "outcome": {"benchmark_relative_return": null, "label": "inconclusive", "status": "inconclusive"}, "quality": {"confidence_calibration_score": 100.0, "contradiction_handling_score": 61.0, "data_quality_score": 55.0, "final_score": 75.66}, "schema_version": "blum-finance-reasoning-v1", "source_record_id": 2444, "source_revision": "973fa4a3579c8b883372e96ed6e7a6e1c99e534a", "split": "test", "task_type": "financial_thesis_generation", "thesis_lineage_id": "3ae80684954824bc78876906e38a6bdea8bdfa17e245a75ed71bf1e7ee1dbe6a", "ticker": "AMAT"}
{"content_hash": "4538bd8cfe41ce2b54dc31bf96e7a5d5d251e98a1ecf22e0b9d29b0c602f4d3b", "created_at": "2026-07-09T21:21:56.590885", "evidence": {"contradicting": ["Price is weakening while recent sentiment is positive.", "The latest signal is explicitly marked High risk."], "provenance": [{"source_id": "2448", "source_type": "signal_snapshot"}], "risks": [], "supporting": ["Momentum score is 75.0.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.16.", "News flow is active with 151 linked 7D records.", "Fundamental evidence is supportive with score 76.0."]}, "example_id": "blum-4538bd8cfe41ce2b54dc", "messages": [{"content": "You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.", "role": "system"}, {"content": "{\"as_of\": \"2026-07-09T21:21:56.590885\", \"evidence\": [{\"type\": \"supporting\", \"value\": \"Momentum score is 75.0.\"}, {\"type\": \"supporting\", \"value\": \"Trend score is 71.7; price structure is supportive.\"}, {\"type\": \"supporting\", \"value\": \"Sentiment confirms part of the thesis with 7D sentiment 0.16.\"}, {\"type\": \"supporting\", \"value\": \"News flow is active with 151 linked 7D records.\"}, {\"type\": \"supporting\", \"value\": \"Fundamental evidence is supportive with score 76.0.\"}, {\"type\": \"contradicting\", \"value\": \"Price is weakening while recent sentiment is positive.\"}, {\"type\": \"contradicting\", \"value\": \"The latest signal is explicitly marked High risk.\"}, {\"type\": \"risk\", \"value\": \"Risk evidence is incomplete and requires verification.\"}], \"horizon\": \"swing\", \"market_context\": {\"macro_environment\": {}, \"market_breadth\": {}, \"market_regime\": \"Risk-Off\", \"risk_sentiment\": \"High Risk\", \"sector_performance\": {\"relative_strength\": 0.0}, \"signal_regime_adjustment\": \"No material regime adjustment beyond standard confirmation checks.\", \"timestamp\": \"2026-07-09T21:21:56.581430\", \"volatility_regime\": \"high_volatility\"}, \"portfolio_context\": {}, \"question\": \"Evaluate the evidence and state what would change the view.\", \"ticker\": \"AMAT\"}", "role": "user"}, {"content": "{\"bear_case\": [\"Price is weakening while recent sentiment is positive.\", \"The latest signal is explicitly marked High risk.\"], \"bull_case\": [\"Momentum score is 75.0.\", \"Trend score is 71.7; price structure is supportive.\", \"Sentiment confirms part of the thesis with 7D sentiment 0.16.\", \"News flow is active with 151 linked 7D records.\", \"Fundamental evidence is supportive with score 76.0.\"], \"confidence\": 100.0, \"invalidation_conditions\": [\"Loss of support near 396.48.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"], \"risks\": [\"Risk evidence is incomplete and requires verification.\"], \"status\": \"watch\", \"thesis\": \"AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 66.4 and thesis conviction 70.1/100 in a Risk-Off regime. The working explanation is: The market may be discounting risks that the positive narrative has not absorbed. Primary support: Momentum score is 75.0. Main challenge: Price is weakening while recent sentiment is positive.\", \"what_would_change_the_view\": [\"Loss of support near 396.48.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"]}", "role": "assistant"}], "outcome": {"benchmark_relative_return": null, "label": "inconclusive", "status": "inconclusive"}, "quality": {"confidence_calibration_score": 100.0, "contradiction_handling_score": 61.0, "data_quality_score": 55.0, "final_score": 75.66}, "schema_version": "blum-finance-reasoning-v1", "source_record_id": 2448, "source_revision": "973fa4a3579c8b883372e96ed6e7a6e1c99e534a", "split": "test", "task_type": "financial_thesis_generation", "thesis_lineage_id": "9a3d7d0fb3debc9af1c8eab0583011c4da410e373b7b5b3cd54cd0766b827900", "ticker": "AMAT"}
{"content_hash": "5e66c7ff0807d49290dc775595ca28243197c3fc6ae7405c7e7424b5920daa3d", "created_at": "2026-07-09T22:03:13.940813", "evidence": {"contradicting": ["Price is weakening while recent sentiment is positive.", "The latest signal is explicitly marked High risk."], "provenance": [{"source_id": "2450", "source_type": "signal_snapshot"}], "risks": [], "supporting": ["Momentum score is 75.0.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.15.", "News flow is active with 150 linked 7D records.", "Fundamental evidence is supportive with score 76.0."]}, "example_id": "blum-5e66c7ff0807d49290dc", "messages": [{"content": "You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.", "role": "system"}, {"content": "{\"as_of\": \"2026-07-09T22:03:13.940813\", \"evidence\": [{\"type\": \"supporting\", \"value\": \"Momentum score is 75.0.\"}, {\"type\": \"supporting\", \"value\": \"Trend score is 71.7; price structure is supportive.\"}, {\"type\": \"supporting\", \"value\": \"Sentiment confirms part of the thesis with 7D sentiment 0.15.\"}, {\"type\": \"supporting\", \"value\": \"News flow is active with 150 linked 7D records.\"}, {\"type\": \"supporting\", \"value\": \"Fundamental evidence is supportive with score 76.0.\"}, {\"type\": \"contradicting\", \"value\": \"Price is weakening while recent sentiment is positive.\"}, {\"type\": \"contradicting\", \"value\": \"The latest signal is explicitly marked High risk.\"}, {\"type\": \"risk\", \"value\": \"Risk evidence is incomplete and requires verification.\"}], \"horizon\": \"swing\", \"market_context\": {\"macro_environment\": {}, \"market_breadth\": {}, \"market_regime\": \"Risk-Off\", \"risk_sentiment\": \"High Risk\", \"sector_performance\": {\"relative_strength\": 0.0}, \"signal_regime_adjustment\": \"No material regime adjustment beyond standard confirmation checks.\", \"timestamp\": \"2026-07-09T22:03:13.926385\", \"volatility_regime\": \"high_volatility\"}, \"portfolio_context\": {}, \"question\": \"Evaluate the evidence and state what would change the view.\", \"ticker\": \"AMAT\"}", "role": "user"}, {"content": "{\"bear_case\": [\"Price is weakening while recent sentiment is positive.\", \"The latest signal is explicitly marked High risk.\"], \"bull_case\": [\"Momentum score is 75.0.\", \"Trend score is 71.7; price structure is supportive.\", \"Sentiment confirms part of the thesis with 7D sentiment 0.15.\", \"News flow is active with 150 linked 7D records.\", \"Fundamental evidence is supportive with score 76.0.\"], \"confidence\": 100.0, \"invalidation_conditions\": [\"Loss of support near 396.48.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"], \"risks\": [\"Risk evidence is incomplete and requires verification.\"], \"status\": \"watch\", \"thesis\": \"AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 66.4 and thesis conviction 70.1/100 in a Risk-Off regime. The working explanation is: The market may be discounting risks that the positive narrative has not absorbed. Primary support: Momentum score is 75.0. Main challenge: Price is weakening while recent sentiment is positive.\", \"what_would_change_the_view\": [\"Loss of support near 396.48.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"]}", "role": "assistant"}], "outcome": {"benchmark_relative_return": null, "label": "inconclusive", "status": "inconclusive"}, "quality": {"confidence_calibration_score": 100.0, "contradiction_handling_score": 61.0, "data_quality_score": 55.0, "final_score": 75.66}, "schema_version": "blum-finance-reasoning-v1", "source_record_id": 2450, "source_revision": "973fa4a3579c8b883372e96ed6e7a6e1c99e534a", "split": "test", "task_type": "financial_thesis_generation", "thesis_lineage_id": "e9939f522dba718d973ce7136199927bb3e3dface2361e540a65a4952871819d", "ticker": "AMAT"}
{"content_hash": "05b7a655380a6f78319964a42039df4d28bf006211f79a7bed7c36306083795d", "created_at": "2026-07-09T22:43:56.613961", "evidence": {"contradicting": ["Price is weakening while recent sentiment is positive.", "The latest signal is explicitly marked High risk."], "provenance": [{"source_id": "2454", "source_type": "signal_snapshot"}], "risks": [], "supporting": ["Momentum score is 75.0.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.15.", "News flow is active with 151 linked 7D records.", "Fundamental evidence is supportive with score 76.0."]}, "example_id": "blum-05b7a655380a6f783199", "messages": [{"content": "You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.", "role": "system"}, {"content": "{\"as_of\": \"2026-07-09T22:43:56.613961\", \"evidence\": [{\"type\": \"supporting\", \"value\": \"Momentum score is 75.0.\"}, {\"type\": \"supporting\", \"value\": \"Trend score is 71.7; price structure is supportive.\"}, {\"type\": \"supporting\", \"value\": \"Sentiment confirms part of the thesis with 7D sentiment 0.15.\"}, {\"type\": \"supporting\", \"value\": \"News flow is active with 151 linked 7D records.\"}, {\"type\": \"supporting\", \"value\": \"Fundamental evidence is supportive with score 76.0.\"}, {\"type\": \"contradicting\", \"value\": \"Price is weakening while recent sentiment is positive.\"}, {\"type\": \"contradicting\", \"value\": \"The latest signal is explicitly marked High risk.\"}, {\"type\": \"risk\", \"value\": \"Risk evidence is incomplete and requires verification.\"}], \"horizon\": \"swing\", \"market_context\": {\"macro_environment\": {}, \"market_breadth\": {}, \"market_regime\": \"Risk-Off\", \"risk_sentiment\": \"High Risk\", \"sector_performance\": {\"relative_strength\": 0.0}, \"signal_regime_adjustment\": \"No material regime adjustment beyond standard confirmation checks.\", \"timestamp\": \"2026-07-09T22:43:56.608273\", \"volatility_regime\": \"high_volatility\"}, \"portfolio_context\": {}, \"question\": \"Evaluate the evidence and state what would change the view.\", \"ticker\": \"AMAT\"}", "role": "user"}, {"content": "{\"bear_case\": [\"Price is weakening while recent sentiment is positive.\", \"The latest signal is explicitly marked High risk.\"], \"bull_case\": [\"Momentum score is 75.0.\", \"Trend score is 71.7; price structure is supportive.\", \"Sentiment confirms part of the thesis with 7D sentiment 0.15.\", \"News flow is active with 151 linked 7D records.\", \"Fundamental evidence is supportive with score 76.0.\"], \"confidence\": 100.0, \"invalidation_conditions\": [\"Loss of support near 396.48.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"], \"risks\": [\"Risk evidence is incomplete and requires verification.\"], \"status\": \"watch\", \"thesis\": \"AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 66.4 and thesis conviction 70.1/100 in a Risk-Off regime. The working explanation is: The market may be discounting risks that the positive narrative has not absorbed. Primary support: Momentum score is 75.0. Main challenge: Price is weakening while recent sentiment is positive.\", \"what_would_change_the_view\": [\"Loss of support near 396.48.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"]}", "role": "assistant"}], "outcome": {"benchmark_relative_return": null, "label": "inconclusive", "status": "inconclusive"}, "quality": {"confidence_calibration_score": 100.0, "contradiction_handling_score": 61.0, "data_quality_score": 55.0, "final_score": 75.66}, "schema_version": "blum-finance-reasoning-v1", "source_record_id": 2454, "source_revision": "973fa4a3579c8b883372e96ed6e7a6e1c99e534a", "split": "test", "task_type": "financial_thesis_generation", "thesis_lineage_id": "7a3ccee995d342fcce3e94c11d062aee23730bd55461cac0bcbbb03728de1fe4", "ticker": "AMAT"}
{"content_hash": "14d3678f99e9cbadfd8224e5ba24ded2a35b2a560430664935e6d4eeb3815f6a", "created_at": "2026-07-09T23:24:32.332580", "evidence": {"contradicting": ["Price is weakening while recent sentiment is positive.", "The latest signal is explicitly marked High risk."], "provenance": [{"source_id": "2458", "source_type": "signal_snapshot"}], "risks": [], "supporting": ["Momentum score is 75.0.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.15.", "News flow is active with 151 linked 7D records.", "Fundamental evidence is supportive with score 76.0."]}, "example_id": "blum-14d3678f99e9cbadfd82", "messages": [{"content": "You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.", "role": "system"}, {"content": "{\"as_of\": \"2026-07-09T23:24:32.332580\", \"evidence\": [{\"type\": \"supporting\", \"value\": \"Momentum score is 75.0.\"}, {\"type\": \"supporting\", \"value\": \"Trend score is 71.7; price structure is supportive.\"}, {\"type\": \"supporting\", \"value\": \"Sentiment confirms part of the thesis with 7D sentiment 0.15.\"}, {\"type\": \"supporting\", \"value\": \"News flow is active with 151 linked 7D records.\"}, {\"type\": \"supporting\", \"value\": \"Fundamental evidence is supportive with score 76.0.\"}, {\"type\": \"contradicting\", \"value\": \"Price is weakening while recent sentiment is positive.\"}, {\"type\": \"contradicting\", \"value\": \"The latest signal is explicitly marked High risk.\"}, {\"type\": \"risk\", \"value\": \"Risk evidence is incomplete and requires verification.\"}], \"horizon\": \"swing\", \"market_context\": {\"macro_environment\": {}, \"market_breadth\": {}, \"market_regime\": \"Risk-Off\", \"risk_sentiment\": \"High Risk\", \"sector_performance\": {\"relative_strength\": 0.0}, \"signal_regime_adjustment\": \"No material regime adjustment beyond standard confirmation checks.\", \"timestamp\": \"2026-07-09T23:24:32.322300\", \"volatility_regime\": \"high_volatility\"}, \"portfolio_context\": {}, \"question\": \"Evaluate the evidence and state what would change the view.\", \"ticker\": \"AMAT\"}", "role": "user"}, {"content": "{\"bear_case\": [\"Price is weakening while recent sentiment is positive.\", \"The latest signal is explicitly marked High risk.\"], \"bull_case\": [\"Momentum score is 75.0.\", \"Trend score is 71.7; price structure is supportive.\", \"Sentiment confirms part of the thesis with 7D sentiment 0.15.\", \"News flow is active with 151 linked 7D records.\", \"Fundamental evidence is supportive with score 76.0.\"], \"confidence\": 100.0, \"invalidation_conditions\": [\"Loss of support near 396.48.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"], \"risks\": [\"Risk evidence is incomplete and requires verification.\"], \"status\": \"watch\", \"thesis\": \"AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 66.4 and thesis conviction 70.1/100 in a Risk-Off regime. The working explanation is: The market may be discounting risks that the positive narrative has not absorbed. Primary support: Momentum score is 75.0. Main challenge: Price is weakening while recent sentiment is positive.\", \"what_would_change_the_view\": [\"Loss of support near 396.48.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"]}", "role": "assistant"}], "outcome": {"benchmark_relative_return": null, "label": "inconclusive", "status": "inconclusive"}, "quality": {"confidence_calibration_score": 100.0, "contradiction_handling_score": 61.0, "data_quality_score": 55.0, "final_score": 75.66}, "schema_version": "blum-finance-reasoning-v1", "source_record_id": 2458, "source_revision": "973fa4a3579c8b883372e96ed6e7a6e1c99e534a", "split": "test", "task_type": "financial_thesis_generation", "thesis_lineage_id": "366107fa0483d6f12209c106cf63df46b6085721c3d689a1c33a86275ebfdbc1", "ticker": "AMAT"}
{"content_hash": "f8811a9cfab42d09eb531ea68d1602397cc91b00447e463439abe1c9e2173811", "created_at": "2026-07-13T00:00:34.560414", "evidence": {"contradicting": ["The latest signal is explicitly marked High risk."], "provenance": [{"source_id": "2834", "source_type": "signal_snapshot"}], "risks": [], "supporting": ["Momentum score is 87.4.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.19.", "News flow is active with 126 linked 7D records.", "Fundamental evidence is supportive with score 76.0."]}, "example_id": "blum-f8811a9cfab42d09eb53", "messages": [{"content": "You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.", "role": "system"}, {"content": "{\"as_of\": \"2026-07-13T00:00:34.560414\", \"evidence\": [{\"type\": \"supporting\", \"value\": \"Momentum score is 87.4.\"}, {\"type\": \"supporting\", \"value\": \"Trend score is 71.7; price structure is supportive.\"}, {\"type\": \"supporting\", \"value\": \"Sentiment confirms part of the thesis with 7D sentiment 0.19.\"}, {\"type\": \"supporting\", \"value\": \"News flow is active with 126 linked 7D records.\"}, {\"type\": \"supporting\", \"value\": \"Fundamental evidence is supportive with score 76.0.\"}, {\"type\": \"contradicting\", \"value\": \"The latest signal is explicitly marked High risk.\"}, {\"type\": \"risk\", \"value\": \"Risk evidence is incomplete and requires verification.\"}], \"horizon\": \"swing\", \"market_context\": {\"macro_environment\": {}, \"market_breadth\": {}, \"market_regime\": \"Risk-Off\", \"risk_sentiment\": \"High Risk\", \"sector_performance\": {\"relative_strength\": 0.0}, \"signal_regime_adjustment\": \"No material regime adjustment beyond standard confirmation checks.\", \"timestamp\": \"2026-07-13T00:00:34.547916\", \"volatility_regime\": \"high_volatility\"}, \"portfolio_context\": {}, \"question\": \"Evaluate the evidence and state what would change the view.\", \"ticker\": \"AMAT\"}", "role": "user"}, {"content": "{\"bear_case\": [\"The latest signal is explicitly marked High risk.\"], \"bull_case\": [\"Momentum score is 87.4.\", \"Trend score is 71.7; price structure is supportive.\", \"Sentiment confirms part of the thesis with 7D sentiment 0.19.\", \"News flow is active with 126 linked 7D records.\", \"Fundamental evidence is supportive with score 76.0.\"], \"confidence\": 100.0, \"invalidation_conditions\": [\"Loss of support near 403.75.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"], \"risks\": [\"Risk evidence is incomplete and requires verification.\"], \"status\": \"watch\", \"thesis\": \"AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 69.2 and thesis conviction 73.7/100 in a Risk-Off regime. The working explanation is: Narrative activity is visible but has not yet translated into a decisive price move. Primary support: Momentum score is 87.4. Main challenge: The latest signal is explicitly marked High risk.\", \"what_would_change_the_view\": [\"Loss of support near 403.75.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"]}", "role": "assistant"}], "outcome": {"benchmark_relative_return": null, "label": "inconclusive", "status": "inconclusive"}, "quality": {"confidence_calibration_score": 100.0, "contradiction_handling_score": 53.0, "data_quality_score": 55.0, "final_score": 73.92}, "schema_version": "blum-finance-reasoning-v1", "source_record_id": 2834, "source_revision": "973fa4a3579c8b883372e96ed6e7a6e1c99e534a", "split": "test", "task_type": "financial_thesis_generation", "thesis_lineage_id": "3a2ed75717c9da1dce231a6647604df0a75bc727b6d890bf0e20d0cf3020f27e", "ticker": "AMAT"}
{"content_hash": "29e424c05c8bf1f3380ad800b9f16663cc1f382e37d407afb20d3f96c834ad30", "created_at": "2026-07-13T00:40:49.678224", "evidence": {"contradicting": ["The latest signal is explicitly marked High risk."], "provenance": [{"source_id": "2838", "source_type": "signal_snapshot"}], "risks": [], "supporting": ["Momentum score is 87.4.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.19.", "News flow is active with 126 linked 7D records.", "Fundamental evidence is supportive with score 76.0."]}, "example_id": "blum-29e424c05c8bf1f3380a", "messages": [{"content": "You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.", "role": "system"}, {"content": "{\"as_of\": \"2026-07-13T00:40:49.678224\", \"evidence\": [{\"type\": \"supporting\", \"value\": \"Momentum score is 87.4.\"}, {\"type\": \"supporting\", \"value\": \"Trend score is 71.7; price structure is supportive.\"}, {\"type\": \"supporting\", \"value\": \"Sentiment confirms part of the thesis with 7D sentiment 0.19.\"}, {\"type\": \"supporting\", \"value\": \"News flow is active with 126 linked 7D records.\"}, {\"type\": \"supporting\", \"value\": \"Fundamental evidence is supportive with score 76.0.\"}, {\"type\": \"contradicting\", \"value\": \"The latest signal is explicitly marked High risk.\"}, {\"type\": \"risk\", \"value\": \"Risk evidence is incomplete and requires verification.\"}], \"horizon\": \"swing\", \"market_context\": {\"macro_environment\": {}, \"market_breadth\": {}, \"market_regime\": \"Risk-Off\", \"risk_sentiment\": \"High Risk\", \"sector_performance\": {\"relative_strength\": 0.0}, \"signal_regime_adjustment\": \"No material regime adjustment beyond standard confirmation checks.\", \"timestamp\": \"2026-07-13T00:40:49.671423\", \"volatility_regime\": \"high_volatility\"}, \"portfolio_context\": {}, \"question\": \"Evaluate the evidence and state what would change the view.\", \"ticker\": \"AMAT\"}", "role": "user"}, {"content": "{\"bear_case\": [\"The latest signal is explicitly marked High risk.\"], \"bull_case\": [\"Momentum score is 87.4.\", \"Trend score is 71.7; price structure is supportive.\", \"Sentiment confirms part of the thesis with 7D sentiment 0.19.\", \"News flow is active with 126 linked 7D records.\", \"Fundamental evidence is supportive with score 76.0.\"], \"confidence\": 100.0, \"invalidation_conditions\": [\"Loss of support near 403.75.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"], \"risks\": [\"Risk evidence is incomplete and requires verification.\"], \"status\": \"watch\", \"thesis\": \"AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 69.2 and thesis conviction 73.7/100 in a Risk-Off regime. The working explanation is: Narrative activity is visible but has not yet translated into a decisive price move. Primary support: Momentum score is 87.4. Main challenge: The latest signal is explicitly marked High risk.\", \"what_would_change_the_view\": [\"Loss of support near 403.75.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"]}", "role": "assistant"}], "outcome": {"benchmark_relative_return": null, "label": "inconclusive", "status": "inconclusive"}, "quality": {"confidence_calibration_score": 100.0, "contradiction_handling_score": 53.0, "data_quality_score": 55.0, "final_score": 73.92}, "schema_version": "blum-finance-reasoning-v1", "source_record_id": 2838, "source_revision": "973fa4a3579c8b883372e96ed6e7a6e1c99e534a", "split": "test", "task_type": "financial_thesis_generation", "thesis_lineage_id": "1a90b09971cadf9c99e55002b0b07a896f2f7cad42e031eb987cfd69d5de6d64", "ticker": "AMAT"}
{"content_hash": "85d8dd5455cf72cacfe5f7dabc4fb2b5f783356a563224e5fd41839269393147", "created_at": "2026-07-13T01:21:04.203690", "evidence": {"contradicting": ["The latest signal is explicitly marked High risk."], "provenance": [{"source_id": "2842", "source_type": "signal_snapshot"}], "risks": [], "supporting": ["Momentum score is 87.4.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.19.", "News flow is active with 126 linked 7D records.", "Fundamental evidence is supportive with score 76.0."]}, "example_id": "blum-85d8dd5455cf72cacfe5", "messages": [{"content": "You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.", "role": "system"}, {"content": "{\"as_of\": \"2026-07-13T01:21:04.203690\", \"evidence\": [{\"type\": \"supporting\", \"value\": \"Momentum score is 87.4.\"}, {\"type\": \"supporting\", \"value\": \"Trend score is 71.7; price structure is supportive.\"}, {\"type\": \"supporting\", \"value\": \"Sentiment confirms part of the thesis with 7D sentiment 0.19.\"}, {\"type\": \"supporting\", \"value\": \"News flow is active with 126 linked 7D records.\"}, {\"type\": \"supporting\", \"value\": \"Fundamental evidence is supportive with score 76.0.\"}, {\"type\": \"contradicting\", \"value\": \"The latest signal is explicitly marked High risk.\"}, {\"type\": \"risk\", \"value\": \"Risk evidence is incomplete and requires verification.\"}], \"horizon\": \"swing\", \"market_context\": {\"macro_environment\": {}, \"market_breadth\": {}, \"market_regime\": \"Risk-Off\", \"risk_sentiment\": \"High Risk\", \"sector_performance\": {\"relative_strength\": 0.0}, \"signal_regime_adjustment\": \"No material regime adjustment beyond standard confirmation checks.\", \"timestamp\": \"2026-07-13T01:21:04.197554\", \"volatility_regime\": \"high_volatility\"}, \"portfolio_context\": {}, \"question\": \"Evaluate the evidence and state what would change the view.\", \"ticker\": \"AMAT\"}", "role": "user"}, {"content": "{\"bear_case\": [\"The latest signal is explicitly marked High risk.\"], \"bull_case\": [\"Momentum score is 87.4.\", \"Trend score is 71.7; price structure is supportive.\", \"Sentiment confirms part of the thesis with 7D sentiment 0.19.\", \"News flow is active with 126 linked 7D records.\", \"Fundamental evidence is supportive with score 76.0.\"], \"confidence\": 100.0, \"invalidation_conditions\": [\"Loss of support near 403.75.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"], \"risks\": [\"Risk evidence is incomplete and requires verification.\"], \"status\": \"watch\", \"thesis\": \"AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 69.2 and thesis conviction 73.7/100 in a Risk-Off regime. The working explanation is: Narrative activity is visible but has not yet translated into a decisive price move. Primary support: Momentum score is 87.4. Main challenge: The latest signal is explicitly marked High risk.\", \"what_would_change_the_view\": [\"Loss of support near 403.75.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"]}", "role": "assistant"}], "outcome": {"benchmark_relative_return": null, "label": "inconclusive", "status": "inconclusive"}, "quality": {"confidence_calibration_score": 100.0, "contradiction_handling_score": 53.0, "data_quality_score": 55.0, "final_score": 73.92}, "schema_version": "blum-finance-reasoning-v1", "source_record_id": 2842, "source_revision": "973fa4a3579c8b883372e96ed6e7a6e1c99e534a", "split": "test", "task_type": "financial_thesis_generation", "thesis_lineage_id": "781a60cfcf6c3037fbd31b7aa7b3f76eb78b37fbca089e814c0d888e95267889", "ticker": "AMAT"}
{"content_hash": "39b668a890bc1a0e376ce6bdbf65220295a7590eea5a6685c82fd32090bb873e", "created_at": "2026-07-13T02:01:50.663950", "evidence": {"contradicting": ["The latest signal is explicitly marked High risk."], "provenance": [{"source_id": "2846", "source_type": "signal_snapshot"}], "risks": [], "supporting": ["Momentum score is 87.4.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.19.", "News flow is active with 126 linked 7D records.", "Fundamental evidence is supportive with score 76.0."]}, "example_id": "blum-39b668a890bc1a0e376c", "messages": [{"content": "You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.", "role": "system"}, {"content": "{\"as_of\": \"2026-07-13T02:01:50.663950\", \"evidence\": [{\"type\": \"supporting\", \"value\": \"Momentum score is 87.4.\"}, {\"type\": \"supporting\", \"value\": \"Trend score is 71.7; price structure is supportive.\"}, {\"type\": \"supporting\", \"value\": \"Sentiment confirms part of the thesis with 7D sentiment 0.19.\"}, {\"type\": \"supporting\", \"value\": \"News flow is active with 126 linked 7D records.\"}, {\"type\": \"supporting\", \"value\": \"Fundamental evidence is supportive with score 76.0.\"}, {\"type\": \"contradicting\", \"value\": \"The latest signal is explicitly marked High risk.\"}, {\"type\": \"risk\", \"value\": \"Risk evidence is incomplete and requires verification.\"}], \"horizon\": \"swing\", \"market_context\": {\"macro_environment\": {}, \"market_breadth\": {}, \"market_regime\": \"Risk-Off\", \"risk_sentiment\": \"High Risk\", \"sector_performance\": {\"relative_strength\": 0.0}, \"signal_regime_adjustment\": \"No material regime adjustment beyond standard confirmation checks.\", \"timestamp\": \"2026-07-13T02:01:50.654325\", \"volatility_regime\": \"high_volatility\"}, \"portfolio_context\": {}, \"question\": \"Evaluate the evidence and state what would change the view.\", \"ticker\": \"AMAT\"}", "role": "user"}, {"content": "{\"bear_case\": [\"The latest signal is explicitly marked High risk.\"], \"bull_case\": [\"Momentum score is 87.4.\", \"Trend score is 71.7; price structure is supportive.\", \"Sentiment confirms part of the thesis with 7D sentiment 0.19.\", \"News flow is active with 126 linked 7D records.\", \"Fundamental evidence is supportive with score 76.0.\"], \"confidence\": 100.0, \"invalidation_conditions\": [\"Loss of support near 403.75.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"], \"risks\": [\"Risk evidence is incomplete and requires verification.\"], \"status\": \"watch\", \"thesis\": \"AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 69.2 and thesis conviction 73.7/100 in a Risk-Off regime. The working explanation is: Narrative activity is visible but has not yet translated into a decisive price move. Primary support: Momentum score is 87.4. Main challenge: The latest signal is explicitly marked High risk.\", \"what_would_change_the_view\": [\"Loss of support near 403.75.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"]}", "role": "assistant"}], "outcome": {"benchmark_relative_return": null, "label": "inconclusive", "status": "inconclusive"}, "quality": {"confidence_calibration_score": 100.0, "contradiction_handling_score": 53.0, "data_quality_score": 55.0, "final_score": 73.92}, "schema_version": "blum-finance-reasoning-v1", "source_record_id": 2846, "source_revision": "973fa4a3579c8b883372e96ed6e7a6e1c99e534a", "split": "test", "task_type": "financial_thesis_generation", "thesis_lineage_id": "2c27827bece613219a8804d7fa0da334c5b46ee84fc1380d858d2e96a53a40e1", "ticker": "AMAT"}
{"content_hash": "43efcc2e206caa9e0a7d05f5dd9226c7aebd1b2d8f2832db7fff021bd99b0b8a", "created_at": "2026-07-13T02:43:17.083147", "evidence": {"contradicting": ["The latest signal is explicitly marked High risk."], "provenance": [{"source_id": "2850", "source_type": "signal_snapshot"}], "risks": [], "supporting": ["Momentum score is 87.4.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.19.", "News flow is active with 126 linked 7D records.", "Fundamental evidence is supportive with score 76.0."]}, "example_id": "blum-43efcc2e206caa9e0a7d", "messages": [{"content": "You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.", "role": "system"}, {"content": "{\"as_of\": \"2026-07-13T02:43:17.083147\", \"evidence\": [{\"type\": \"supporting\", \"value\": \"Momentum score is 87.4.\"}, {\"type\": \"supporting\", \"value\": \"Trend score is 71.7; price structure is supportive.\"}, {\"type\": \"supporting\", \"value\": \"Sentiment confirms part of the thesis with 7D sentiment 0.19.\"}, {\"type\": \"supporting\", \"value\": \"News flow is active with 126 linked 7D records.\"}, {\"type\": \"supporting\", \"value\": \"Fundamental evidence is supportive with score 76.0.\"}, {\"type\": \"contradicting\", \"value\": \"The latest signal is explicitly marked High risk.\"}, {\"type\": \"risk\", \"value\": \"Risk evidence is incomplete and requires verification.\"}], \"horizon\": \"swing\", \"market_context\": {\"macro_environment\": {}, \"market_breadth\": {}, \"market_regime\": \"Risk-Off\", \"risk_sentiment\": \"High Risk\", \"sector_performance\": {\"relative_strength\": 0.0}, \"signal_regime_adjustment\": \"No material regime adjustment beyond standard confirmation checks.\", \"timestamp\": \"2026-07-13T02:43:17.076809\", \"volatility_regime\": \"high_volatility\"}, \"portfolio_context\": {}, \"question\": \"Evaluate the evidence and state what would change the view.\", \"ticker\": \"AMAT\"}", "role": "user"}, {"content": "{\"bear_case\": [\"The latest signal is explicitly marked High risk.\"], \"bull_case\": [\"Momentum score is 87.4.\", \"Trend score is 71.7; price structure is supportive.\", \"Sentiment confirms part of the thesis with 7D sentiment 0.19.\", \"News flow is active with 126 linked 7D records.\", \"Fundamental evidence is supportive with score 76.0.\"], \"confidence\": 100.0, \"invalidation_conditions\": [\"Loss of support near 403.75.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"], \"risks\": [\"Risk evidence is incomplete and requires verification.\"], \"status\": \"watch\", \"thesis\": \"AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 69.2 and thesis conviction 73.7/100 in a Risk-Off regime. The working explanation is: Narrative activity is visible but has not yet translated into a decisive price move. Primary support: Momentum score is 87.4. Main challenge: The latest signal is explicitly marked High risk.\", \"what_would_change_the_view\": [\"Loss of support near 403.75.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"]}", "role": "assistant"}], "outcome": {"benchmark_relative_return": null, "label": "inconclusive", "status": "inconclusive"}, "quality": {"confidence_calibration_score": 100.0, "contradiction_handling_score": 53.0, "data_quality_score": 55.0, "final_score": 73.92}, "schema_version": "blum-finance-reasoning-v1", "source_record_id": 2850, "source_revision": "973fa4a3579c8b883372e96ed6e7a6e1c99e534a", "split": "test", "task_type": "financial_thesis_generation", "thesis_lineage_id": "29fb7b0b7d2c8521687ffafa8d4f21faa62e66f1e64caa016fb41d4fa8c077c8", "ticker": "AMAT"}
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{"content_hash": "ebbe89f0d0f82e23ed01d9b2dfe10ef76edee427dbb609711e2a37b5b417f4c0", "created_at": "2026-07-13T09:11:03.744362", "evidence": {"contradicting": ["The latest signal is explicitly marked High risk."], "provenance": [{"source_id": "2868", "source_type": "signal_snapshot"}], "risks": [], "supporting": ["Momentum score is 87.4.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.18.", "News flow is active with 123 linked 7D records.", "Fundamental evidence is supportive with score 76.0."]}, "example_id": "blum-ebbe89f0d0f82e23ed01", "messages": [{"content": "You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.", "role": "system"}, {"content": "{\"as_of\": \"2026-07-13T09:11:03.744362\", \"evidence\": [{\"type\": \"supporting\", \"value\": \"Momentum score is 87.4.\"}, {\"type\": \"supporting\", \"value\": \"Trend score is 71.7; price structure is supportive.\"}, {\"type\": \"supporting\", \"value\": \"Sentiment confirms part of the thesis with 7D sentiment 0.18.\"}, {\"type\": \"supporting\", \"value\": \"News flow is active with 123 linked 7D records.\"}, {\"type\": \"supporting\", \"value\": \"Fundamental evidence is supportive with score 76.0.\"}, {\"type\": \"contradicting\", \"value\": \"The latest signal is explicitly marked High risk.\"}, {\"type\": \"risk\", \"value\": \"Risk evidence is incomplete and requires verification.\"}], \"horizon\": \"swing\", \"market_context\": {\"macro_environment\": {}, \"market_breadth\": {}, \"market_regime\": \"Risk-Off\", \"risk_sentiment\": \"High Risk\", \"sector_performance\": {\"relative_strength\": 0.0}, \"signal_regime_adjustment\": \"No material regime adjustment beyond standard confirmation checks.\", \"timestamp\": \"2026-07-13T09:11:03.734212\", \"volatility_regime\": \"high_volatility\"}, \"portfolio_context\": {}, \"question\": \"Evaluate the evidence and state what would change the view.\", \"ticker\": \"AMAT\"}", "role": "user"}, {"content": "{\"bear_case\": [\"The latest signal is explicitly marked High risk.\"], \"bull_case\": [\"Momentum score is 87.4.\", \"Trend score is 71.7; price structure is supportive.\", \"Sentiment confirms part of the thesis with 7D sentiment 0.18.\", \"News flow is active with 123 linked 7D records.\", \"Fundamental evidence is supportive with score 76.0.\"], \"confidence\": 100.0, \"invalidation_conditions\": [\"Loss of support near 403.75.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"], \"risks\": [\"Risk evidence is incomplete and requires verification.\"], \"status\": \"watch\", \"thesis\": \"AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 69.2 and thesis conviction 73.7/100 in a Risk-Off regime. The working explanation is: Narrative activity is visible but has not yet translated into a decisive price move. Primary support: Momentum score is 87.4. Main challenge: The latest signal is explicitly marked High risk.\", \"what_would_change_the_view\": [\"Loss of support near 403.75.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"]}", "role": "assistant"}], "outcome": {"benchmark_relative_return": null, "label": "inconclusive", "status": "inconclusive"}, "quality": {"confidence_calibration_score": 100.0, "contradiction_handling_score": 53.0, "data_quality_score": 55.0, "final_score": 73.92}, "schema_version": "blum-finance-reasoning-v1", "source_record_id": 2868, "source_revision": "973fa4a3579c8b883372e96ed6e7a6e1c99e534a", "split": "test", "task_type": "financial_thesis_generation", "thesis_lineage_id": "db8d869b91e400b9569b06032397e7646a504015ede0ff154a00efe53c7cc8c4", "ticker": "AMAT"}
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{"content_hash": "d94be14f23e78e99e6c3a1b4ec4c24e5c25a211293a478e25dd4def65a8d6a6c", "created_at": "2026-07-13T10:32:36.919634", "evidence": {"contradicting": ["The latest signal is explicitly marked High risk."], "provenance": [{"source_id": "2872", "source_type": "signal_snapshot"}], "risks": [], "supporting": ["Momentum score is 87.4.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.18.", "News flow is active with 122 linked 7D records.", "Fundamental evidence is supportive with score 76.0."]}, "example_id": "blum-d94be14f23e78e99e6c3", "messages": [{"content": "You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.", "role": "system"}, {"content": "{\"as_of\": \"2026-07-13T10:32:36.919634\", \"evidence\": [{\"type\": \"supporting\", \"value\": \"Momentum score is 87.4.\"}, {\"type\": \"supporting\", \"value\": \"Trend score is 71.7; price structure is supportive.\"}, {\"type\": \"supporting\", \"value\": \"Sentiment confirms part of the thesis with 7D sentiment 0.18.\"}, {\"type\": \"supporting\", \"value\": \"News flow is active with 122 linked 7D records.\"}, {\"type\": \"supporting\", \"value\": \"Fundamental evidence is supportive with score 76.0.\"}, {\"type\": \"contradicting\", \"value\": \"The latest signal is explicitly marked High risk.\"}, {\"type\": \"risk\", \"value\": \"Risk evidence is incomplete and requires verification.\"}], \"horizon\": \"swing\", \"market_context\": {\"macro_environment\": {}, \"market_breadth\": {}, \"market_regime\": \"Risk-Off\", \"risk_sentiment\": \"High Risk\", \"sector_performance\": {\"relative_strength\": 0.0}, \"signal_regime_adjustment\": \"No material regime adjustment beyond standard confirmation checks.\", \"timestamp\": \"2026-07-13T10:32:36.905205\", \"volatility_regime\": \"high_volatility\"}, \"portfolio_context\": {}, \"question\": \"Evaluate the evidence and state what would change the view.\", \"ticker\": \"AMAT\"}", "role": "user"}, {"content": "{\"bear_case\": [\"The latest signal is explicitly marked High risk.\"], \"bull_case\": [\"Momentum score is 87.4.\", \"Trend score is 71.7; price structure is supportive.\", \"Sentiment confirms part of the thesis with 7D sentiment 0.18.\", \"News flow is active with 122 linked 7D records.\", \"Fundamental evidence is supportive with score 76.0.\"], \"confidence\": 100.0, \"invalidation_conditions\": [\"Loss of support near 403.75.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"], \"risks\": [\"Risk evidence is incomplete and requires verification.\"], \"status\": \"watch\", \"thesis\": \"AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 69.1 and thesis conviction 73.7/100 in a Risk-Off regime. The working explanation is: Narrative activity is visible but has not yet translated into a decisive price move. Primary support: Momentum score is 87.4. Main challenge: The latest signal is explicitly marked High risk.\", \"what_would_change_the_view\": [\"Loss of support near 403.75.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"]}", "role": "assistant"}], "outcome": {"benchmark_relative_return": null, "label": "inconclusive", "status": "inconclusive"}, "quality": {"confidence_calibration_score": 100.0, "contradiction_handling_score": 53.0, "data_quality_score": 55.0, "final_score": 73.92}, "schema_version": "blum-finance-reasoning-v1", "source_record_id": 2872, "source_revision": "973fa4a3579c8b883372e96ed6e7a6e1c99e534a", "split": "test", "task_type": "financial_thesis_generation", "thesis_lineage_id": "36a62f137710dcfa6fdb4db6a518a5803c1cdd8a49ee8545673961af089b8abf", "ticker": "AMAT"}
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{"content_hash": "901e152efd5dac633686ef837984b6a459505d156a7d9b8f6389b0196b8f4c8b", "created_at": "2026-07-13T11:53:18.618736", "evidence": {"contradicting": ["The latest signal is explicitly marked High risk."], "provenance": [{"source_id": "2880", "source_type": "signal_snapshot"}], "risks": [], "supporting": ["Momentum score is 87.4.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.18.", "News flow is active with 121 linked 7D records.", "Fundamental evidence is supportive with score 76.0."]}, "example_id": "blum-901e152efd5dac633686", "messages": [{"content": "You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.", "role": "system"}, {"content": "{\"as_of\": \"2026-07-13T11:53:18.618736\", \"evidence\": [{\"type\": \"supporting\", \"value\": \"Momentum score is 87.4.\"}, {\"type\": \"supporting\", \"value\": \"Trend score is 71.7; price structure is supportive.\"}, {\"type\": \"supporting\", \"value\": \"Sentiment confirms part of the thesis with 7D sentiment 0.18.\"}, {\"type\": \"supporting\", \"value\": \"News flow is active with 121 linked 7D records.\"}, {\"type\": \"supporting\", \"value\": \"Fundamental evidence is supportive with score 76.0.\"}, {\"type\": \"contradicting\", \"value\": \"The latest signal is explicitly marked High risk.\"}, {\"type\": \"risk\", \"value\": \"Risk evidence is incomplete and requires verification.\"}], \"horizon\": \"swing\", \"market_context\": {\"macro_environment\": {}, \"market_breadth\": {}, \"market_regime\": \"Risk-Off\", \"risk_sentiment\": \"High Risk\", \"sector_performance\": {\"relative_strength\": 0.0}, \"signal_regime_adjustment\": \"No material regime adjustment beyond standard confirmation checks.\", \"timestamp\": \"2026-07-13T11:53:18.612914\", \"volatility_regime\": \"high_volatility\"}, \"portfolio_context\": {}, \"question\": \"Evaluate the evidence and state what would change the view.\", \"ticker\": \"AMAT\"}", "role": "user"}, {"content": "{\"bear_case\": [\"The latest signal is explicitly marked High risk.\"], \"bull_case\": [\"Momentum score is 87.4.\", \"Trend score is 71.7; price structure is supportive.\", \"Sentiment confirms part of the thesis with 7D sentiment 0.18.\", \"News flow is active with 121 linked 7D records.\", \"Fundamental evidence is supportive with score 76.0.\"], \"confidence\": 100.0, \"invalidation_conditions\": [\"Loss of support near 403.75.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"], \"risks\": [\"Risk evidence is incomplete and requires verification.\"], \"status\": \"watch\", \"thesis\": \"AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 69.1 and thesis conviction 73.7/100 in a Risk-Off regime. The working explanation is: Narrative activity is visible but has not yet translated into a decisive price move. Primary support: Momentum score is 87.4. Main challenge: The latest signal is explicitly marked High risk.\", \"what_would_change_the_view\": [\"Loss of support near 403.75.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"]}", "role": "assistant"}], "outcome": {"benchmark_relative_return": null, "label": "inconclusive", "status": "inconclusive"}, "quality": {"confidence_calibration_score": 100.0, "contradiction_handling_score": 53.0, "data_quality_score": 55.0, "final_score": 73.92}, "schema_version": "blum-finance-reasoning-v1", "source_record_id": 2880, "source_revision": "973fa4a3579c8b883372e96ed6e7a6e1c99e534a", "split": "test", "task_type": "financial_thesis_generation", "thesis_lineage_id": "2c3c52009c6bcb5a912e5409877f89c0c4d9a1a71d25a82d3c07b7f70f73dfe3", "ticker": "AMAT"}
{"content_hash": "d9e3e1f1ce591876d2edd6544d74ec451d7d3ecc9e2f76217a5d7a595eb70cf5", "created_at": "2026-07-13T12:34:42.114823", "evidence": {"contradicting": ["The latest signal is explicitly marked High risk."], "provenance": [{"source_id": "2884", "source_type": "signal_snapshot"}], "risks": [], "supporting": ["Momentum score is 87.4.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.17.", "News flow is active with 120 linked 7D records.", "Fundamental evidence is supportive with score 76.0."]}, "example_id": "blum-d9e3e1f1ce591876d2ed", "messages": [{"content": "You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.", "role": "system"}, {"content": "{\"as_of\": \"2026-07-13T12:34:42.114823\", \"evidence\": [{\"type\": \"supporting\", \"value\": \"Momentum score is 87.4.\"}, {\"type\": \"supporting\", \"value\": \"Trend score is 71.7; price structure is supportive.\"}, {\"type\": \"supporting\", \"value\": \"Sentiment confirms part of the thesis with 7D sentiment 0.17.\"}, {\"type\": \"supporting\", \"value\": \"News flow is active with 120 linked 7D records.\"}, {\"type\": \"supporting\", \"value\": \"Fundamental evidence is supportive with score 76.0.\"}, {\"type\": \"contradicting\", \"value\": \"The latest signal is explicitly marked High risk.\"}, {\"type\": \"risk\", \"value\": \"Risk evidence is incomplete and requires verification.\"}], \"horizon\": \"swing\", \"market_context\": {\"macro_environment\": {}, \"market_breadth\": {}, \"market_regime\": \"Risk-Off\", \"risk_sentiment\": \"High Risk\", \"sector_performance\": {\"relative_strength\": 0.0}, \"signal_regime_adjustment\": \"No material regime adjustment beyond standard confirmation checks.\", \"timestamp\": \"2026-07-13T12:34:42.108422\", \"volatility_regime\": \"high_volatility\"}, \"portfolio_context\": {}, \"question\": \"Evaluate the evidence and state what would change the view.\", \"ticker\": \"AMAT\"}", "role": "user"}, {"content": "{\"bear_case\": [\"The latest signal is explicitly marked High risk.\"], \"bull_case\": [\"Momentum score is 87.4.\", \"Trend score is 71.7; price structure is supportive.\", \"Sentiment confirms part of the thesis with 7D sentiment 0.17.\", \"News flow is active with 120 linked 7D records.\", \"Fundamental evidence is supportive with score 76.0.\"], \"confidence\": 100.0, \"invalidation_conditions\": [\"Loss of support near 403.75.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"], \"risks\": [\"Risk evidence is incomplete and requires verification.\"], \"status\": \"watch\", \"thesis\": \"AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 69.1 and thesis conviction 73.7/100 in a Risk-Off regime. The working explanation is: Narrative activity is visible but has not yet translated into a decisive price move. Primary support: Momentum score is 87.4. Main challenge: The latest signal is explicitly marked High risk.\", \"what_would_change_the_view\": [\"Loss of support near 403.75.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"]}", "role": "assistant"}], "outcome": {"benchmark_relative_return": null, "label": "inconclusive", "status": "inconclusive"}, "quality": {"confidence_calibration_score": 100.0, "contradiction_handling_score": 53.0, "data_quality_score": 55.0, "final_score": 73.92}, "schema_version": "blum-finance-reasoning-v1", "source_record_id": 2884, "source_revision": "973fa4a3579c8b883372e96ed6e7a6e1c99e534a", "split": "test", "task_type": "financial_thesis_generation", "thesis_lineage_id": "c1239312bb407869bcc129eb1828e712bb47e71bf8a4b0ff0df5e7d30e31a6da", "ticker": "AMAT"}
{"content_hash": "bd2d79d021e988a95be27464c6aa034998c49b8e962664c5bec71ed79245b5bb", "created_at": "2026-07-13T13:15:09.618774", "evidence": {"contradicting": ["The latest signal is explicitly marked High risk."], "provenance": [{"source_id": "2888", "source_type": "signal_snapshot"}], "risks": [], "supporting": ["Momentum score is 87.4.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.17.", "News flow is active with 121 linked 7D records.", "Fundamental evidence is supportive with score 76.0."]}, "example_id": "blum-bd2d79d021e988a95be2", "messages": [{"content": "You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.", "role": "system"}, {"content": "{\"as_of\": \"2026-07-13T13:15:09.618774\", \"evidence\": [{\"type\": \"supporting\", \"value\": \"Momentum score is 87.4.\"}, {\"type\": \"supporting\", \"value\": \"Trend score is 71.7; price structure is supportive.\"}, {\"type\": \"supporting\", \"value\": \"Sentiment confirms part of the thesis with 7D sentiment 0.17.\"}, {\"type\": \"supporting\", \"value\": \"News flow is active with 121 linked 7D records.\"}, {\"type\": \"supporting\", \"value\": \"Fundamental evidence is supportive with score 76.0.\"}, {\"type\": \"contradicting\", \"value\": \"The latest signal is explicitly marked High risk.\"}, {\"type\": \"risk\", \"value\": \"Risk evidence is incomplete and requires verification.\"}], \"horizon\": \"swing\", \"market_context\": {\"macro_environment\": {}, \"market_breadth\": {}, \"market_regime\": \"Risk-Off\", \"risk_sentiment\": \"High Risk\", \"sector_performance\": {\"relative_strength\": 0.0}, \"signal_regime_adjustment\": \"No material regime adjustment beyond standard confirmation checks.\", \"timestamp\": \"2026-07-13T13:15:09.613147\", \"volatility_regime\": \"high_volatility\"}, \"portfolio_context\": {}, \"question\": \"Evaluate the evidence and state what would change the view.\", \"ticker\": \"AMAT\"}", "role": "user"}, {"content": "{\"bear_case\": [\"The latest signal is explicitly marked High risk.\"], \"bull_case\": [\"Momentum score is 87.4.\", \"Trend score is 71.7; price structure is supportive.\", \"Sentiment confirms part of the thesis with 7D sentiment 0.17.\", \"News flow is active with 121 linked 7D records.\", \"Fundamental evidence is supportive with score 76.0.\"], \"confidence\": 100.0, \"invalidation_conditions\": [\"Loss of support near 403.75.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"], \"risks\": [\"Risk evidence is incomplete and requires verification.\"], \"status\": \"watch\", \"thesis\": \"AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 69.1 and thesis conviction 73.7/100 in a Risk-Off regime. The working explanation is: Narrative activity is visible but has not yet translated into a decisive price move. Primary support: Momentum score is 87.4. Main challenge: The latest signal is explicitly marked High risk.\", \"what_would_change_the_view\": [\"Loss of support near 403.75.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"]}", "role": "assistant"}], "outcome": {"benchmark_relative_return": null, "label": "inconclusive", "status": "inconclusive"}, "quality": {"confidence_calibration_score": 100.0, "contradiction_handling_score": 53.0, "data_quality_score": 55.0, "final_score": 73.92}, "schema_version": "blum-finance-reasoning-v1", "source_record_id": 2888, "source_revision": "973fa4a3579c8b883372e96ed6e7a6e1c99e534a", "split": "test", "task_type": "financial_thesis_generation", "thesis_lineage_id": "378b7ceee9b2588273f21065de32ad853665b0cb18768bf81a1ef61faf24fbaa", "ticker": "AMAT"}
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{"content_hash": "877a7c3457be809f95b128e079a07ab7ea4bd77300f13c501b71245c42f55319", "created_at": "2026-07-13T19:41:41.371370", "evidence": {"contradicting": ["The latest signal is explicitly marked High risk."], "provenance": [{"source_id": "2920", "source_type": "signal_snapshot"}], "risks": [], "supporting": ["Momentum score is 87.4.", "Trend score is 71.7; price structure is supportive.", "Sentiment confirms part of the thesis with 7D sentiment 0.15.", "News flow is active with 114 linked 7D records.", "Fundamental evidence is supportive with score 76.0."]}, "example_id": "blum-877a7c3457be809f95b1", "messages": [{"content": "You are BLUM Finance, an evidence-bound financial reasoning model. Use only supplied point-in-time evidence and abstain when it is insufficient.", "role": "system"}, {"content": "{\"as_of\": \"2026-07-13T19:41:41.371370\", \"evidence\": [{\"type\": \"supporting\", \"value\": \"Momentum score is 87.4.\"}, {\"type\": \"supporting\", \"value\": \"Trend score is 71.7; price structure is supportive.\"}, {\"type\": \"supporting\", \"value\": \"Sentiment confirms part of the thesis with 7D sentiment 0.15.\"}, {\"type\": \"supporting\", \"value\": \"News flow is active with 114 linked 7D records.\"}, {\"type\": \"supporting\", \"value\": \"Fundamental evidence is supportive with score 76.0.\"}, {\"type\": \"contradicting\", \"value\": \"The latest signal is explicitly marked High risk.\"}, {\"type\": \"risk\", \"value\": \"Risk evidence is incomplete and requires verification.\"}], \"horizon\": \"swing\", \"market_context\": {\"macro_environment\": {}, \"market_breadth\": {}, \"market_regime\": \"Risk-Off\", \"risk_sentiment\": \"High Risk\", \"sector_performance\": {\"relative_strength\": 0.0}, \"signal_regime_adjustment\": \"No material regime adjustment beyond standard confirmation checks.\", \"timestamp\": \"2026-07-13T19:41:41.366264\", \"volatility_regime\": \"high_volatility\"}, \"portfolio_context\": {}, \"question\": \"Evaluate the evidence and state what would change the view.\", \"ticker\": \"AMAT\"}", "role": "user"}, {"content": "{\"bear_case\": [\"The latest signal is explicitly marked High risk.\"], \"bull_case\": [\"Momentum score is 87.4.\", \"Trend score is 71.7; price structure is supportive.\", \"Sentiment confirms part of the thesis with 7D sentiment 0.15.\", \"News flow is active with 114 linked 7D records.\", \"Fundamental evidence is supportive with score 76.0.\"], \"confidence\": 100.0, \"invalidation_conditions\": [\"Loss of support near 403.75.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"], \"risks\": [\"Risk evidence is incomplete and requires verification.\"], \"status\": \"watch\", \"thesis\": \"AMAT (Applied Materials Inc.) is a Watch research setup with Blum score 68.9 and thesis conviction 73.5/100 in a Risk-Off regime. The working explanation is: Narrative activity is visible but has not yet translated into a decisive price move. Primary support: Momentum score is 87.4. Main challenge: The latest signal is explicitly marked High risk.\", \"what_would_change_the_view\": [\"Loss of support near 403.75.\", \"Sentiment turns negative while price momentum fades.\", \"ETF or sector confirmation fails to appear after the next market refresh.\", \"Volatility expands further without a compensating increase in evidence quality.\", \"Positive narrative becomes crowded but no longer improves price structure.\"]}", "role": "assistant"}], "outcome": {"benchmark_relative_return": null, "label": "inconclusive", "status": "inconclusive"}, "quality": {"confidence_calibration_score": 100.0, "contradiction_handling_score": 53.0, "data_quality_score": 55.0, "final_score": 73.92}, "schema_version": "blum-finance-reasoning-v1", "source_record_id": 2920, "source_revision": "973fa4a3579c8b883372e96ed6e7a6e1c99e534a", "split": "test", "task_type": "financial_thesis_generation", "thesis_lineage_id": "3a4bcbfc01700728c698de933f8f1e465bd2ecdc7bce7467581752442c83baa2", "ticker": "AMAT"}
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