Tom Demark Session: Traders Expo New York Notes
2/15/10 Session Notes
-introduced by Larry Williams, friend of Demark and a commodity trader for 40 years
-clients of Demark include Soros, Steve Cohen (special advisor), Fitch Bros., Cooperman, Tudor (executive VP), Steinhardt, John Burbank (Passport Capital)
-website: www.demark.com
-he likes to buy into weakness and sell into strength, opposite of the trend followers in 1970s
-61.8% and 38.2% are key fib numbers
-markets top not because of what smart buyers are doing, but absence of sellers
-He spent $2 million just to get accurate data. Was involved with a fund in 1970s which went from $200M to $6B
-believes you can’t trade as a hobby, must make it a full-time profession to compete against the likes of Steve Cohen
-Regards Steve Cohen as the best ever. Worked with him the last 14 years. He is consumed 24 hour/7 days a week by the markets
-good breakouts tend to happen after down closes the day before as the buying power wasn’t used up
-Demark spent most of the session bragging how well the 9/13 indicator number has worked over dozens of examples
After session conversations
-Best book: Demark Indicator (Blue cover)
-they will come out with a retail chart product in the coming months on demark.com. Currently only CQG and Bloomberg are licensed. The Metastock stuff is illegal
-there are programmers who programmed their own indicators using Demark formulas on top of E-Signal and Tradestation. (Anyone do this for ThinkorSwim? Please contact me)