Jurrien Timmer
Director of Global Macro, Fidelity
Ticker
Side
Mentions
Opened
Entry
P&L
Thesis
Theme
Source
Long
Feb 19
$71.66
+2.8%
The "Mag 7" peaked relative to the market in October. Since the April 2025 "tariff tantrum," the Equal Weight index has almost completely caught up to the Cap Weighted index. The bull market is in its 40th month; typically, at this stage, returns flatten and rotation occurs. As long as the Mag 7 doesn't crash, capital rotates into cheaper, broader sectors (Small/Mid/Equal Weight). LONG the broadening trade via Equal Weight and Small Caps. A recession or a sharp downturn in Mag 7 dragging the whole index down.
The "Mag 7" peaked relative to the market in October. Since the April 2025 "tariff tantrum," the Equal Weight index has almost completely caught up to the Cap Weighted index. The bull market is in its 40th month; typically, at this stage, returns flatten and rotation occurs. As long as the Mag 7 doesn't crash, capital rotates into cheaper, broader sectors (Small/Mid/Equal Weight). LONG the broadening trade via Equal Weight and Small Caps. A recession or a sharp downturn in Mag 7 dragging the whole index down.
Macro
Long
Feb 19
$264.60
+6.6%
The "Mag 7" peaked relative to the market in October. Since the April 2025 "tariff tantrum," the Equal Weight index has almost completely caught up to the Cap Weighted index. The bull market is in its 40th month; typically, at this stage, returns flatten and rotation occurs. As long as the Mag 7 doesn't crash, capital rotates into cheaper, broader sectors (Small/Mid/Equal Weight). LONG the broadening trade via Equal Weight and Small Caps. A recession or a sharp downturn in Mag 7 dragging the whole index down.
The "Mag 7" peaked relative to the market in October. Since the April 2025 "tariff tantrum," the Equal Weight index has almost completely caught up to the Cap Weighted index. The bull market is in its 40th month; typically, at this stage, returns flatten and rotation occurs. As long as the Mag 7 doesn't crash, capital rotates into cheaper, broader sectors (Small/Mid/Equal Weight). LONG the broadening trade via Equal Weight and Small Caps. A recession or a sharp downturn in Mag 7 dragging the whole index down.
Macro
Long
Feb 19
$203.14
+1.7%
The "Mag 7" peaked relative to the market in October. Since the April 2025 "tariff tantrum," the Equal Weight index has almost completely caught up to the Cap Weighted index. The bull market is in its 40th month; typically, at this stage, returns flatten and rotation occurs. As long as the Mag 7 doesn't crash, capital rotates into cheaper, broader sectors (Small/Mid/Equal Weight). LONG the broadening trade via Equal Weight and Small Caps. A recession or a sharp downturn in Mag 7 dragging the whole index down.
The "Mag 7" peaked relative to the market in October. Since the April 2025 "tariff tantrum," the Equal Weight index has almost completely caught up to the Cap Weighted index. The bull market is in its 40th month; typically, at this stage, returns flatten and rotation occurs. As long as the Mag 7 doesn't crash, capital rotates into cheaper, broader sectors (Small/Mid/Equal Weight). LONG the broadening trade via Equal Weight and Small Caps. A recession or a sharp downturn in Mag 7 dragging the whole index down.
Macro
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Jurrien Timmer has 3 trade ideas tracked on Buzzberg across 3 tickers since February 2026. Most covered: SPY, IWM, IJH.