Check Point Software (CHKP) Message Board

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Technology Stocks : Check Point Software (CHKP)

CHKP 183.81

-1.0%

Nov 20 3:59 PM EST

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To: David S. who wrote (2163)	4/29/1998 10:02:00 AM
From: Frank	Read Replies (3) of 7150

David, What is a support level? Its a number, a number generated from a chart. What is a chart? It is a graphical representation of the historical numbers. These historical numbers reflect past psychological expectations of future performance at the time the stock is priced. So today the stock is priced at $32 or whatever. This reflects, according to the efficient market hypothesis (which we all know is bull), that the stock is appropriately priced based upon current information and future potential. Please note the key word above, "Psychology." The stock is not going lower, psychology indicates that if it were to go lower, it would be an incredible buying opportunity given historical earnings performance. So it should go up? No, because the psychology of this security and its market reflects uncertainty MSFT and CSCO. I'm saying this because I'd like your opinion on the psychology of the stock not its, "Support level." This is a sincere request and is not intended to be specious or condescending. Please share your feelings.

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