diff --git a/stock/app/holdings_intel.py b/stock/app/holdings_intel.py
index 5cc43ee..c79745d 100644
--- a/stock/app/holdings_intel.py
+++ b/stock/app/holdings_intel.py
@@ -72,7 +72,10 @@ def _ma(closes: "pd.Series", window: int) -> Optional[float]:
 
 
 def exit_rules(holding: dict, ticker_prices: "pd.DataFrame", params: dict) -> dict:
-    """가격 기반 청산/리스크 flag. (momentum_loss는 compute 단계에서 합산.)"""
+    """가격 기반 청산/리스크 flag (stop_loss/ma50_break/ma200_break/take_profit/climax).
+
+    Note: momentum_loss는 compute_and_store 단계에서 집계하므로 여기서 설정하지 않는다.
+    """
     flags = {"stop_loss": False, "ma50_break": False, "ma200_break": False,
              "take_profit": False, "climax": False}
     avg = holding.get("avg_price")