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Technology Stocks : Ascend (ASND) Traders
ASND 197.59-0.8%Nov 7 9:30 AM EST
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To: charger who wrote (156)9/15/1997 2:05:00 PM
From: Carl Zbad   of 369
 
charger,

<<Having broken all intermediate support, you have to go back to Dec 95 for long term support at 30>>

Is it really valid to set support levels that far back? Short term traders who moved in in Dec 95 have certainly bailed out by now. Long termers who still hold probably won't be buyers again at 30. What is the theory behind support emanating from nearly 2 years ago? I'm not saying you're wrong, I'm trying to learn more about support theory.

Thanks,

carlzbad
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