We investigate the nature of the double color-magnitude sequence observed in the Gaia DR2 HR diagram of stars with high transverse velocities. The stars in the reddest-color sequence are likely dominated by the dynamically-hot tail of the thick disk population. Information from Nissen & Schuster (2010) and from the APOGEE survey suggests that stars in the blue-color sequence have elemental abundance patterns that can be explained by this population having a relatively low star-formation efficiency during its formation. In dynamical and orbital spaces, such as the `Toomre diagram, the two sequences show a significant overlap, but with a tendency for stars on the blue-color sequence to dominate regions with no or retrograde rotation and high total orbital energy. In the plane defined by the maximal vertical excursion of the orbits versus their apocenters, stars of both sequences redistribute into discrete wedges. We conclude that stars which are typically assigned to the halo in the solar vicinity are actually both accreted stars lying along the blue sequence in the HR diagram, and the low velocity tail of the old Galactic disk, possibly dynamically heated by past accretion events. Our results imply that a halo population formed in situ and responsible for the early chemical enrichment prior to the formation of the thick disk is yet to be robustly identified, and that what has been defined as the stars of the in situ stellar halo of the Galaxy may be in fact fossil records of its last significant merger.
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