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Membership

Read what a hedge fund trader reads, every trading day.

Institutional sentiment, DeMark exhaustion signals and cross-asset positioning — written before the open by someone who ran a desk for a decade, not assembled from Wall Street consensus.

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1,283active members
1,094trade ideas published
45markets in the sentiment index
10 yrson the desk at Level Global
Why people join

Most market research tells you what already happened.

The problem is not a shortage of information. It is that almost none of it tells you where positioning is crowded, where sentiment is stretched, and where the risk/reward has quietly flipped.

What you get everywhere else

  • Yesterday's move explained after the fact
  • Consensus dressed up as a call
  • No position, no entry, no exit — nothing you can act on
  • Volume for the sake of volume
  • Nobody has actually traded the strategy they are describing

What you get here

  • Sentiment extremes across 45 markets, updated daily
  • DeMark exhaustion counts, with the reasoning attached
  • Trade ideas with an entry, a thesis and a published outcome
  • Four notes a day, each timed to a moment in the session
  • Written by someone who traded this for ten years at a fund
The trading day

Four notes, timed to when you need them.

Not a firehose. A rhythm you can build a morning around.

Pre-market · 07:00

First Call

Overnight action and what it means for the open. Short enough to read with coffee.

11:00 EST

Mid Morning Note

Once the open has settled — trade ideas and DeMark screens.

Midday

Daily Note

All macro markets, weighted to US, European and Asian equities.

Weekend

The Week Ahead

The catalysts and the focus for the week you are walking into.

"I was fortunate to have Tom as my trader for nearly 10 years. His ability to follow markets and note divergences and extremes across several asset classes was of tremendous value."
David GanekFounder, Level Global Investors
Pricing

Three ways in. All annual, all cancellable.

No lock-in and no long-term contract. Cancel from your account and access runs to the end of the period you have paid for.

887 members

Private Investors

$500first year
Then $1,000/yr — you save $500
  • Two daily notes plus the First Call briefing
  • Trade ideas and tactical market themes
  • Sentiment monitors and charts, 45 markets
  • DeMark Sequential Combo and the S&P 500 screen
  • Monthly market and short-interest webinars
  • Full archive of past notes
Subscribe — $500 Instant access · secure Stripe checkout

Small Institutions

$2,500/ year
For desks, funds and family offices
  • Everything in Private Investors
  • Full access to The Big Picture macro framework
  • Up to 3 team members
  • Bloomberg chat room access with Tom
  • Unlimited direct access for chart and portfolio reviews
  • Custom DeMark screens and priority response
Book a call with Tom 15 minutes, no pitch

The Big Picture

$250/ year
Add-on to any plan, or standalone
  • Monthly deep-dive macro reports
  • Equities, rates, credit, commodities, FX, liquidity
  • Macro Scoreboard and Market Fragility frameworks
  • Interim updates on volatility spikes
  • Positioning and crowding analysis
Add The Big Picture Cancel any time
Questions

The things people ask before joining.

Is this for day traders?

No. If you are looking for 0DTE options alerts or five-minute scalps, this is not it. The work is portfolio-level — allocators, professional traders, RIAs and serious long-term investors who need to understand the primary structural trends.

How much time does it take to read?

First Call is about four minutes. The Daily Note is longer, ten to fifteen. Most members read First Call every day and the others when the market is doing something that matters to them.

Do I need to understand DeMark already?

No. The knowledge base has a guided path that takes about forty minutes and covers Sequential, Combo and how to read the screens. Plenty of members join knowing nothing about it.

Can I cancel?

Any time, from your account page, in one click. Access continues to the end of the period you have already paid for and nothing charges after that.

What is the difference between Private Investors and The Big Picture?

Private Investors is the daily rhythm — four notes, trade ideas, sentiment and DeMark. The Big Picture is the monthly macro layer that sits above it: where markets are fragile, where positioning is crowded, and what the intermediate-term roadmap looks like. Many members take both.

Who actually writes it?

Tom Thornton, every trading day. Not a team, not a content operation. He spent ten years as a trader at Level Global Investors before starting this.

Start reading tomorrow morning.

Subscribe today and First Call lands in your inbox before the open, along with everything else that goes out that day.

Choose your membership