Median horizon is 90 days. Over that window, if price trends up, a down call needs a 3% drop (direction only) or a specific target hit before the speaker's invalidation level. The mirror rule means the invalidation works the same way — price hits the speaker's stop first, it's stopped out. But in a sustained uptrend, that stop gets hit more often before the target. The 33% vs 39% might just be that asymmetry playing out.