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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, May 09, 2008
Emerson Announces New Executive Appointments
Comtex
ST. LOUIS, May 09, 2008 (BUSINESS WIRE) ----Emerson (NYSE:EMR) announced today that Edgar M. Purvis, Jr. has been named executive vice president of Emerson and business leader of Emerson Climate Technologies, headquartered in Sidney, Ohio. Thomas E. Bettcher, who has been business leader since 1997, will become chairman of Emerson Climate Technologies to focus primarily on strategic planning and organizational development. The transition will take place over the next several months.
In announcing the moves, Emerson Chairman, CEO and President David N. Farr praised Bettcher's role in driving Emerson Climate Technologies to its leadership position in the industry and said his new position will strengthen the business's commitment to serving customer needs. Farr emphasized that Purvis's strong industry experience and management skills will maintain the momentum.
"For the past 24 years, Ed Purvis has been extremely instrumental in positioning Emerson Climate Technologies as a global leader in the heating, ventilation, air conditioning and refrigeration industry," Farr said. "His leadership will continue to strengthen all areas of the company as the industry adapts in this ever-changing economic environment."
Purvis joined Emerson in 1983 as a product planner with Copeland. He assumed a number of senior management positions in air conditioning marketing, sales and product planning, and in 1993 was appointed vice president of marketing.
In 1995, Purvis was promoted to vice president of sales and marketing, and in 1996 became the president of refrigeration, a position he held until 2003 when he was named group vice president of refrigeration. He holds a bachelor's degree in mechanical engineering from the University of Tennessee, a master's degree in mechanical engineering from the University of Michigan, and a master of business administration from Capital University in Columbus, Ohio.
About Emerson Climate Technologies
Emerson Climate Technologies, a business of Emerson, is the world's leading provider of heating, ventilation, air conditioning and refrigeration solutions for residential, industrial and commercial applications. The group combines best-in-class technology with proven engineering, design, distribution, educational and monitoring services to provide customized, integrated climate-control solutions for customers worldwide. Emerson Climate Technologies' innovative solutions, which include industry-leading brands such as Copeland Scroll and White-Rodgers, improve human comfort, safeguard food and protect the environment. For more information, visit http://www.emersonclimate.com.
About Emerson
Emerson (NYSE: EMR), based in St. Louis, is a global leader in bringing technology and engineering together to provide innovative solutions to customers through its network power, process management, industrial automation, climate technologies, and appliance and tools businesses. For more information, visit http://www.Emerson.com.
SOURCE: Emerson
for Emerson Mark Polzin, 314-982-1758
Copyright Business Wire 2008
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