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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.
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Wednesday, July 23, 2008
CIT Serves as Financial Advisor in Sale of Moss Holding Company
Comtex
CHARLOTTE, N.C., Jul 23, 2008 (BUSINESS WIRE) ----Edgeview Partners, a CIT company, today announced that Moss Holding Company, a leading designer and manufacturer of tensioned-fabric structures and displays for tradeshows, retail interiors, and corporate and entertainment events, has been acquired by Century Park Capital Partners, a private equity firm based in Los Angeles. Terms of the transaction were not disclosed.
Edgeview was retained by The Riverside Company, a private equity firm co-headquartered in Cleveland and New York, to serve as exclusive financial adviser to Moss during the transaction.
"Moss has delivered outstanding performance for Riverside," said Edgeview Managing Director Ted Garner. "We were pleased to have a chance to partner with the knowledgeable management team at Moss and to work on behalf of Riverside."
"The Edgeview team's knowledge of our current strategic initiatives and expertise in our industry helped facilitate this transaction," said Charlie Corsentino, Chief Executive Officer of Moss Holding Company. "That helped them give potential investors a detailed and comprehensive view of the company. Just as importantly, they ran an efficient process that was very much a partnership with our management team."
Securities and investment banking services were provided through CIT Capital Securities LLC, an affiliate of Edgeview Partners.
Individuals interested in receiving future updates on CIT via e-mail can register at http://newsalerts.cit.com
About The Riverside Company
The Riverside Company (www.riversidecompany.com) is the largest global private equity firm focused on the smaller end of the middle market and is one of the industry's most experienced leveraged buyout investors. Riverside specializes in investing in premier companies valued up to $200 million and partners with strong management teams to build companies through acquisitions and value-added growth. Since 1988, the firm has invested in transactions with a total enterprise value of $3.4 billion.
About Century Park Capital Partners
Century Park Capital Partners (www.centuryparkcapital.com) is a Los Angeles-based private equity firm that partners with owner/managers to build successful companies. The firm specializes in facilitating owner liquidity and business expansion by providing $10 million to $50 million equity investments for minority and majority recapitalizations, growth financings, management-led buyouts and acquisition financings.
About Edgeview Partners
Edgeview Partners (www.edgeviewpartners.com) is a leading investment bank focused exclusively on the middle market. Edgeview has closed deals in over 15 industry sectors, including aerospace and defense, building products, business services, consumer products, diversified manufacturing, energy services, health care, and transportation and logistics. Edgeview is part of CIT, a leading provider of finance solutions for companies throughout the middle market.
About CIT
CIT (NYSE: CIT) is a global commercial finance company that provides financial products and advisory services to more than one million customers in over 50 countries across 30 industries. A leader in middle market financing, CIT has more than $70 billion in managed assets and provides financial solutions for more than half of the Fortune 1000. A member of the S&P 500 and Fortune 500, it maintains leading positions in asset-based, cash flow and Small Business Administration lending, equipment leasing, vendor financing and factoring. The CIT brand platform, Capital Redefined, articulates its value proposition of providing its customers with the relationship, intellectual and financial capital to yield infinite possibilities. Founded in 1908, CIT is celebrating its Centennial throughout 2008. www.cit.com
SOURCE: CIT
CIT MEDIA RELATIONS: C. Curtis Ritter, 212-461-7711 Director of External Communications & Media Relations curt.ritter@cit.com OR Edgeview Partners Tim Whitmire, 704-602-3904 whitmire@edgeviewpartners.com OR CIT INVESTOR RELATIONS: Ken Brause, 212-771-9650 Executive Vice President ken.brause@cit.com
Copyright Business Wire 2008 ********************************************************************** As of Saturday, 07-19-2008 23:59, the latest Comtex SmarTrend� Alert, an automated pattern recognition system, indicated a DOWNTREND on 04-14-2008 for CIT @ $11.50. For more information on SmarTrend, contact your market data provider or go to www.mysmartrend.com SmarTrend is a registered trademark of Comtex News Network, Inc. Copyright � 2004-2008 Comtex News Network, Inc. All rights reserved.
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