Demoted to monitoring / priority low in a capacity-hygiene pass (lane was at 11 active perspectives vs the editorial soft-cap of 8, after biotech-capital-cycle + livestock-disease were added same-week). This executes the "deliberate capacity-aware identity migration" this perspective's own thesis flagged as pending — the original 19-trade diversified war-resolution rotation collapsed to 3 winners + 16 losers (2026-04-26 retro), and the durable signal underneath (risk-on regime + AI-supercycle resumption) is carried by ai-power-bottleneck + the AI-infra lane, where the actual concentrated longs (AMZN/GOOGL/NVDA/MSFT) live. So nothing is lost by holding this as a monitored regime lens rather than an active trade book. Reversible: reopen→active if a fresh war-resolution / cross-asset rotation catalyst re-justifies the original scenario. Active count: 11 → 10 (still over 8; remaining 10 are all live, with spacex-ipo-liquidity-event decaying after 2026-06-12 and gulf-infrastructure-strike after 2026-09-30 as natural near-term offsets — not force-killing live theses to hit a number).