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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.
Dagen McDowell
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Dagen McDowell
Dagen McDowell joined the FOX Business Network as an anchor in September, 2007. Since 2003, McDowell served as a business
correspondent for the FOX News Channel (FNC) where she was a regular guest on Your World with Neil Cavuto. She has also been
a recurring guest on Cashin' In, appearing on the program initially as a contributor when it debuted in May 2001.
Before
entering broadcast news, McDowell wrote a personal finance column for TheStreet.com called "Dear Dagen." In addition, she
has also worked for SmartMoney magazine and SmartMoney.com.
McDowell began her career as a financial journalist at
the Institutional Investor's newsletter division. A native of Virginia, she is a graduate of Wake Forest University.
What was your first job?
Before becoming a financial
journalist over a decade ago, I lived in Colorado after college. Two of my many jobs: pulling weeds for a landscaper and selling
beverages on a golf course.
Are you a spender or a saver?
Recovering spender.
Emerging saver.
What was the one thing you regret buying?
I have a few items of
clothing in my closet with the tags still on them.
What was your biggest money indulgence?
Luxurious
hotel rooms when on vacation.
What was the best money advice you received?
How
much you pay in fees is the one constant you can count on when investing. Low-cost investments win out in the long run.
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