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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: uu who wrote (30793)	1/16/1998 3:02:00 PM
From: vegetarian	Read Replies (1) \| Respond to of 61433

The logic people use in charting is that all the known information about the stock is reflected in the chart in an efficient market and specific formations of charts portray how they will behave in the future based on their behavior in the past. This of course, is not right all the time but certain patterns predict moves correctly 3 out of 4 times if they are read correctly; the cases that are incorrectly read can be taken care by cutting the losses short when it goes against you. I use charts for entry and exit points. The formations indicate supply and demand for the stock. When we say the next stop is 35 and the currently stock has broken through the resistance then one would buy the stock if the upside is acceptable with proper stops because what was resistance then (for example if ASND breaks through 30 resistance on a high volume) becomes support after the break. The psychology is: those people who missed buying the stock at 30 when it breaks through 30 will want to buy it on a pullback to 30 providing the stock support. About the con-artist question, you will have to search them for answers. Hope it helps.