sytems versus discretionary traders

[martin graffman <marting@xxxxxxxxxxxxx>]

DeMark's observations are not valuable unless they can be
objectively analysed, and this will require that the "observations" must
be coded as an indicator that can be used as a system. The ability to
systematize and analyze is one of the great vitues of TS. We are wasting
too much time with personality bashing. Does the DeMark system have any
statistal validity or does it not? That is the question.
     Furthermore, if the system utilizing DeMark's "observation"
(indicator) requires any discretionary intervention, then we cannot know
if the "obervation" has any validity. The discretionary intervention has
contaminated the analysis.
     So, I throw the ball into Mr. DeMark's court. Can you prove that
the "observation" has statistical merit? If so, the we applaud your
efforts and we can discuss how we can use it. If not, then let's discuss
other potential aids to investing.
     Marting