diff --git a/crates/fidc-core/src/platform_expr_strategy.rs b/crates/fidc-core/src/platform_expr_strategy.rs
index 69ea40a..dbf0fb1 100644
--- a/crates/fidc-core/src/platform_expr_strategy.rs
+++ b/crates/fidc-core/src/platform_expr_strategy.rs
@@ -2419,8 +2419,16 @@ impl PlatformExprStrategy {
                 .entry(symbol.clone())
                 .or_insert(0);
             self.position_holding_days_last_counted
-                .entry(symbol)
+                .entry(symbol.clone())
                 .or_insert(signal_date);
+            if let Some(target_order) = &mut self.last_target_order
+                && !target_order.contains(&symbol)
+            {
+                target_order.push(symbol.clone());
+            }
+            if let Some(target_selection) = &mut self.last_target_selection {
+                target_selection.insert(symbol);
+            }
         }
     }
 
@@ -2428,6 +2436,12 @@ impl PlatformExprStrategy {
         self.position_entry_dates.remove(symbol);
         self.position_holding_days.remove(symbol);
         self.position_holding_days_last_counted.remove(symbol);
+        if let Some(target_order) = &mut self.last_target_order {
+            target_order.retain(|target| target != symbol);
+        }
+        if let Some(target_selection) = &mut self.last_target_selection {
+            target_selection.remove(symbol);
+        }
     }
 
     fn max_holding_days_exceeded(&self, symbol: &str) -> Option<i64> {
@@ -13252,11 +13266,16 @@ impl Strategy for PlatformExprStrategy {
             }
         }
 
+        let blocked_exit_slots = exit_symbols
+            .iter()
+            .filter(|symbol| !Self::projected_position_is_flat(&projected, symbol))
+            .count();
+        let daily_target_count = selection_limit.saturating_sub(blocked_exit_slots);
         let daily_target_portfolio_scales = resolved_target_scales(
             &original_target_scales,
             &candidate_target_scales,
-            &same_day_sold_symbols,
-            selection_limit,
+            &exit_symbols,
+            daily_target_count,
             self.config.redistribute_target_weights_after_exit,
         )?;
         if daily_top_up_active && self.config.target_portfolio_daily_enabled {
@@ -13785,6 +13804,58 @@ mod tests {
         assert!((redistributed.iter().map(|(_, scale)| *scale).sum::<f64>() - 3.0).abs() < 1e-12);
     }
 
+    #[test]
+    fn model_target_lifecycle_removes_exits_and_appends_replacements() {
+        let date = d(2025, 1, 3);
+        let mut strategy = PlatformExprStrategy::new(PlatformExprStrategyConfig::generic());
+        strategy.last_target_order = Some(vec![
+            "KEEP".to_string(),
+            "EXITED".to_string(),
+            "RETRY".to_string(),
+        ]);
+        strategy.last_target_selection = Some(BTreeSet::from([
+            "KEEP".to_string(),
+            "EXITED".to_string(),
+            "RETRY".to_string(),
+        ]));
+        strategy
+            .position_entry_dates
+            .insert("EXITED".to_string(), date);
+
+        strategy.forget_position_entry_date("EXITED");
+        assert_eq!(
+            strategy.last_target_order.as_deref(),
+            Some(["KEEP".to_string(), "RETRY".to_string()].as_slice())
+        );
+        assert!(
+            !strategy
+                .last_target_selection
+                .as_ref()
+                .expect("target selection")
+                .contains("EXITED")
+        );
+
+        strategy.remember_position_entry_date("REPLACEMENT", date);
+        assert_eq!(
+            strategy.last_target_order.as_deref(),
+            Some(
+                [
+                    "KEEP".to_string(),
+                    "RETRY".to_string(),
+                    "REPLACEMENT".to_string(),
+                ]
+                .as_slice()
+            )
+        );
+        assert!(
+            strategy
+                .last_target_selection
+                .as_ref()
+                .expect("target selection")
+                .contains("REPLACEMENT")
+        );
+    }
+
     fn single_symbol_platform_data(dates: &[NaiveDate], symbol: &str) -> DataSet {
         DataSet::from_components(
             vec![Instrument {