Disclosures

A reading of the market is only worth what you know about the people giving it. This page says what could color ours and what keeps it in check. It is written to be read with the terms of service, which say what Gekko & Fox is not: it is not investment advice.

1. Nobody pays for a reading

The publisher is paid by no company, fund, issuer or data provider the report names, and takes no fee, commission or referral payment from anything a reader might go on to buy. The site carries no advertising, sponsorship or paid placement today. Should it ever carry advertising, it will be marked as advertising, sold without regard to what the report says and never to a company, fund or issuer the report names, and no advertiser will see an issue before it is published. Should any of this change, the issue concerned will say so, and this page will.

2. What the people who make it own

The people who make Gekko & Fox might invest their own money, and might hold positions in companies the report measures. The report takes no view on any single stock: a state is a reading of an area, and the layers of the AI stack are equal-weight baskets of named members, so a view on a basket is a view on its members together, not on any one of them.

Any such position would be held long, not short, and not in a fund the report measures. The sector states and the market state are read from index funds, not from any company's shares.

3. The trading rule

No position is bought or sold from the moment an issue is computed, on the Sunday morning, until it is published later that day; the daily "After the close" is computed and published in one step, after the session it reads. Outside that window the people who make the report might trade as any investor does.

The rule matters less here than it would elsewhere, because of how a state is made. Every state is computed by code from prices, breadth, liquidity and positioning by a fixed, published method. A person may adjust an area by at most ±10 points, only with a cited and dated source, and the issue shows where that was done. Nothing else about a number can be moved by hand. Every published state is then scored, in public, against the price return that followed it.

4. How AI is used

The numbers are not AI. The written part of an issue — the headline, the standfirst, the reading of each area, what to watch — is drafted with the help of AI language models from the computed board and from dated, cited sources, and then checked by code: every figure the text states is compared with the figure the board holds, every claim of a trigger or a change is verified against the data, and a draft that fails is sent back or cut. The daily is produced and published by code, and its comment is held to the same rule: it may explain the document and may not state a number the document does not hold.

5. Where the data comes from

Prices and volumes come from Massive (formerly Polygon.io). Futures positioning comes from the Commitments of Traders reports published by the U.S. Commodity Futures Trading Commission. The crowd line is the American Association of Individual Investors' weekly sentiment survey, as they publish it. The written reading cites its sources on each issue, under "Sources", with the page and the date it was read. A data provider's error reaches the board; when one is found, the document concerned is corrected and says so.

6. The record is a calculation

The track record scores each published state against the price return that followed it, as the method defines: equal-weight baskets, price returns without dividends, no costs, taxes, fees or slippage, and no actual positions. Nobody, including the people who make the report, traded it. It is published so that the method can be judged, not as a return anyone achieved.

7. Who is responsible

The publisher named in the terms. Questions about anything on this page: hello@dariodario.com.