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Sounds kind of dirty, right? Actually, it's because of a clean visual that technical analysts use this term. Technical analysts like charts (hence their nickname of "chartists"), and they like to give certain patterns they see neat little names.
Such is the case with the double bottom, which looks on a chart like, well, a double bottom. Think of three mountains (on a chart reflecting a rise in values) separated by two valleys (representing dips in value). The troughs of the valleys, and the size of the first two peaks, are generally the same, so the chart looks like the letter 'W.' The appearance of those two valleys represents a double bottom.
So what? Well, if you're one of those folks who believes in the power of the charts, seeing a double bottom suggests a long-term trend is about to reverse. So, if a stock chart shows shares falling for several months, then seeing a double bottom, chances are good (according to the chartists) that the shares will rise. And vice versa.
But, beware: charts can be a great tool, but they're more art than science. Use any charts with caution.
Home / Personal Finance / Financial Planning / Tax
Monday, March 17, 2008
IRS to Start Sending Out Stimulus Payments May 2
Donna Fuscaldo
FOXBusiness
The check will soon be in the mail.
The IRS announced Monday that starting May 2, it will begin mailing more
than 130 million economic stimulus checks. The IRS expects the first round of payments to be completed in early July.
With
fears of a recession reverberating through the markets, the government approved a $168 billion stimulus plan that gives single
filers up to $600 and married couples filing jointly up to $1,200. In addition, parents will get $300 for each child. Single
filers making more than $75,000 and married coupled making more than $150,000 will see their rebates reduced. The plan is
designed to boost the economy by getting consumers spending again.
According to the IRS, to help tax payers figure
out how much they are entitled to, a new online calculator is available at www.irs.gov. Payments will be made via direct deposit
for those that choose to receive their 2007 income tax refund through direct deposit. Everyone else will get their payment
in the form of a paper check.
“To receive an economic stimulus payment, people just need to file their tax returns
as they usually do," said Linda E. Stiff, IRS acting commissioner, in a press release. “The payment will be automatic for
the vast majority of taxpayers. Some lower-income workers and recipients of certain Social Security and veterans benefits
who don’t normally need to file a tax return will need to do so in order to receive a stimulus payment.”
The IRS plans
to send out the payments in order of the last two digits of the Social Security number used on the tax return, which means
taxpayers could receive their checks at different times than family members and neighbors. The IRS is aiming to make about
34 million payments or more than 25% in the first three weeks of the payment schedule. For people who use direct deposit,
their stimulus payments should come in between May 2 and May 16 if their tax returns were received and processed by April
15.
| Direct Deposit Payments | |
| If the last two digits of your Social Security number are: | Your economic stimulus payment deposit should be sent to your bank account by: |
| 00 – 20 | May 2 |
| 21 – 75 | May 9 |
| 76 – 99 | May 16 |
| Paper Check | |
| If the last two digits of your Social Security number are: | Your check should be in the mail by: |
| 00 – 09 | May 16 |
| 10 – 18 | May 23 |
| 19 – 25 | May 30 |
| 26 – 38 | June 6 |
| 39 – 51 | June 13 |
| 52 – 63 | June 20 |
| 64 – 75 | June 27 |
| 76 – 87 | July 4 |
| 88 – 99 | July 11 |
Source: IRS
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