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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 / Lifestyle & Money / Consumer & Debt
Tuesday, May 06, 2008
Chrysler Offers $2.99 Gas for Three Years
FOXBusiness
In a time when many families are cutting back on spending of automobiles and gas, Chrysler is offering an incentive to new car buyers: $2.99 a gallon gas.
The car manufacturer will provide purchasers of new Chrysler, Dodge, or Jeep cars a $2.99 gas guarantee, starting on Wednesday and running through June 2.
The guarantee comes in the form of a branded fuel card that locks in the price of gas at $2.99 per gallon for the next three years.
A few car models are excluded from the deal, including all SRT performance vehicles, the classic Jeep Wrangler, and Dodge Challengers.
Chrysler hopes the plan will revive sluggish sales, which were down 23.5% in April 2008 compared with April 2007, according to USA Today.
New car owners will be allowed 12,000 miles of driving per year, based on the vehicle’s miles-per-gallon rating. Consumers can purchase 87-octane regular gasoline, diesel fuel, or E85, a gas and ethanol blend.
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