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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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Friday, June 27, 2008
Massachusetts Boaters Now Have More Insurance Choices
Comtex
MAYFIELD VILLAGE, Ohio, Jun 27, 2008 (BUSINESS WIRE) ----Now, Massachusetts boaters have even more insurance options. Progressive announced today that it is offering boat insurance for customers who shop online.
To get a quote or learn more about its rates, coverages and services, boaters can visit www.progressive.com, 24 hours a day, seven days a week.
"We're excited to offer our unique combination of coverages and services to Massachusetts boaters," said Dominic Mediate, Progressive's boat product manager. "Things like 24/7 claims service and specialized coverages such as Emergency Towing and Labor and Total Loss Replacement are designed to help get boaters back on the water fast in the event of a loss."
Progressive began writing car insurance for online shoppers in Massachusetts in May of this year, and has been offering commercial auto insurance to business owners in the state through independent insurance agents for more than a year.
Over time, it plans to offer other products, including motorcycle and recreational vehicle insurance, and other ways to shop, such as through independent agents.
About Progressive
The Progressive Group of Insurance Companies, in business since 1937, is one of the country's largest auto insurance groups, the largest seller of motorcycle and personal watercraft policies, and a market leader in commercial auto insurance based on premiums written.
Progressive is committed to becoming consumers' #1 choice for auto insurance by providing competitive rates and products that meet drivers' needs throughout their lifetimes, superior online and in-person customer service, and best-in-class, 24-hour claims service, including its concierge level of claims service available at service centers located in major metropolitan areas throughout the United States.
Progressive companies offer consumers choices in how to shop for, buy and manage their auto insurance policies. Progressive offers its products, including personal and commercial auto, motorcycle, boat and recreational vehicle insurance, through more than 30,000 independent insurance agencies throughout the U.S. and online and by phone directly from the Company. Private passenger auto products and prices are different when purchased directly from Progressive or through independent agencies. To find an agent or to get a quote, go to www.progressive.com.
The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, are publicly traded at (NYSE:PGR).
SOURCE: The Progressive Corporation
Progressive PR Kathy Bell, 440-395-0898
Copyright Business Wire 2008 ********************************************************************** As of Monday, 06-23-2008 23:59, the latest Comtex SmarTrend� Alert, an automated pattern recognition system, indicated an UPTREND on 04-16-2008 for PGR @ $17.66. 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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