The How-to
A practical guide to operating from the weekly report. What each section is for, when to use it, and the mistakes to avoid before you make them.
Markets are information networks. A narrative is born somewhere — an earnings call, a regulatory filing, a fund manager’s letter. From there it propagates: edge → fast money → institutional → mainstream → exhaustion. Plotted against time, the shape is the sigmoid curve below.
The weekly report tells you where each narrative is on this curve.
A stock is a vehicle. One or more narratives can ride it at the same time. We track narratives, not tickers — because each narrative brings its own pool of buyers and sellers, and the price you see is the sum of all those flows pulling on the same name.
The same ticker can sit in three or four active narratives, each at a different point on the curve — and each one runs on its own clock. While a narrative is climbing (Q1 → Q3), new buyers keep flowing in. By Q4, the buyer pool is exhausted; the holders who entered earlier flip to sellers.
Snapshot, illustrative. Stages shown are examples; the live dashboard tracks the current state.
That’s why you trim a position when one of its narratives reaches Q4 — not because the whole stock is done, but because that narrative’s buyers have dried up while its early holders are now distributing. The other narratives may keep pulling new flow in, but the saturating one is now a net seller. The name stays on the dashboard; the weight comes off.
The diffusion curve translates into four stages we use to classify any narrative on the dashboard. They form the backbone of the Active Narratives section.
The other two sections of the report — Fast Narratives and Narratives Gaining Traction — operate on different time horizons and don’t carry stage labels.
The report has three sections. Each surfaces a different kind of signal.
The core of the report. Themes with enough evidence and price confirmation to warrant a stage classification.
Memory pricing strengthens as hyperscaler capex tightens supply. If this works, the rerating runs across the basket — not just the anchor.
Each entry shows:
The dashboard at the top orders these by overall conviction. Treat the rank as a sort, not a recommendation.
Short-horizon themes moving on story, momentum, or catalyst — not slow-confirming fundamentals. Often headline-driven, sometimes flow-driven.
How they differ from Active:
The section surfaces what’s catching attention, what’s driving it, and the names exposed.
Subscribers tend to treat Fast Narratives as a separate sleeve from the Active book — shorter duration, smaller size, often expressed via options. The framing is closer to event trade (entry and exit tied to news flow or price action) than thesis trade (entry and exit tied to stage transition).
A Fast Narrative occasionally graduates to Active when fundamentals catch up. When that happens, it appears on the Active dashboard the following week.
Narratives that recently saw a sudden spike in activity — chatter, mentions, flow, price moves — without yet settling into a clear shape.
No stage label, no prediction. We don’t know where these are heading. They could:
The signal is the spike itself — not what it becomes.
The section lists what’s moving, the trigger, and the names being talked about. Subscribers tend to use it as a research prompt — “why is this suddenly active?” — and track across weeks to see whether it crystallizes. The same narrative can appear multiple times before settling into shape, or never settle at all.
The report describes regime and state. How you act on it is a function of your process, risk tolerance, and horizon. What follows are patterns and considerations subscribers tend to find useful — not rules.
Different sections, different signals. Active Narratives are themes with structure; transitions play out over weeks to quarters and reward patience. Fast Narratives are event-driven and reward attention to news and price triggers. Narratives Gaining Traction are activity flags — something is moving, but the shape isn’t clear yet. Closer to a research prompt than a trade signal.
| Stage | Consideration |
|---|---|
| Q1 | Asymmetric but uncertain. Many subscribers treat these as probes — small enough that a high failure rate doesn’t break the book. |
| Q2 | Fundamentals confirming alongside price. This is where conviction tends to scale for most subscribers. |
| Q3 | Narrative is running. A common approach is trimming into strength rather than chasing. |
| Q4 | Consensus has formed. Most subscribers stop initiating here. |
The report is a weekly snapshot; markets move continuously. It tells you the current stage of each narrative — but the timing of any individual entry is a function of your own process. The report describes the what; your technical or process work decides the when.
Names sitting at Q4, names at LOW Stage Confidence, or names no longer present in the report are all worth reviewing against your existing position. Whether the read warrants action is a judgment call against your thesis.
A narrative that sits at HIGH for several weeks running tends to be a higher-quality read than one that’s HIGH once and gets downgraded. Weekly downgrades are themselves information — worth reading even when you’re not holding the name.
The report is built to complement an existing trading process, not replace one. Subscribers tend to get the most out of it when it sits alongside their own tools for execution and risk — as one layer of a broader stack.
Most subscribers operate from a multi-layer process: macro context at the top, position sizing and exits at the bottom, and a setup engine in between. The report tends to slot in between macro and tactical — a regime read on which themes are real, what stage they’re in, and when they break. The other layers are usually best owned by the trader, calibrated to your own horizon and risk tolerance.
Pairing the report with your own setup, sizing, and exit rules tends to sharpen decisions across the stack — fewer dead themes held too long, less sizing into Q4 like it’s Q2, less trading Fast Narratives with Active discipline.