I not an expert on Lagrange points, but the way I see is like this:
L1, L2 (other side of the Moon), and L3 (other side of the Earth) should all lie in a straight line. If an object is on the imaginary line, but not located at a Lagrange point it will either fall towards the Earth or Moon, or fly off into outer space, but it won't deviate from the line.
[edit]Just to preempt any possible correction. The above is not actually correct. The coriolis effect will cause the asteroid to move off the line denoted to the L1 and L3 Lagrangian points. But for the amount of variation we're talking about (60km-ish) the effect would be tiny.[/edit]
In the case of a Moon elevator, it should be positioned Earthward of L1. This will mean that the asteroid will try to fall towards the Earth. However, the cable, pulling in the opposite direction, will balance the attraction of the Earth and keep the asteroid stationary. The more massive the asteroid is the closer it can be to L1 while still being able to resist the cable's pull. However, it can never be situated at L1 (unless it is infintely massive).
L1, L2 (other side of the Moon), and L3 (other side of the Earth) should all lie in a straight line. If an object is on the imaginary line, but not located at a Lagrange point it will either fall towards the Earth or Moon, or fly off into outer space, but it won't deviate from the line.
[edit]Just to preempt any possible correction. The above is not actually correct. The coriolis effect will cause the asteroid to move off the line denoted to the L1 and L3 Lagrangian points. But for the amount of variation we're talking about (60km-ish) the effect would be tiny.[/edit]
In the case of a Moon elevator, it should be positioned Earthward of L1. This will mean that the asteroid will try to fall towards the Earth. However, the cable, pulling in the opposite direction, will balance the attraction of the Earth and keep the asteroid stationary. The more massive the asteroid is the closer it can be to L1 while still being able to resist the cable's pull. However, it can never be situated at L1 (unless it is infintely massive).