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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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Tuesday, July 22, 2008
Photo Release -- Northrop Grumman Announces Winner of First Annual Engineering Scholars Program for San Fernando Valley Students
Comtex
WOODLAND HILLS, Calif., Jul 22, 2008 (PrimeNewswire via COMTEX) ----Northrop Grumman Corporation (NYSE:NOC) announced the winner of its first annual Engineering Scholars program in the San Fernando Valley, which provides a $10,000 scholarship to a local high school student interested in pursuing a career in engineering.
A photo accompanying this release is available at http://media.primezone.com/noc/
Eric Gobst received a merit-based scholarship for his exceptional academic achievements and community service during an awards reception in June. Eric is a recent graduate of Granada Hills Charter High School in Granada Hills, Calif., and will attend the University of Illinois in Champaign, Ill., where he will pursue a degree in mechanical engineering.
"Northrop Grumman is committed to helping students from our community pursuing engineering-related degrees," said Jim Myers, sector vice president and general manager of Northrop Grumman's Navigation Systems Division. "We want to recognize promising future engineers like Eric and encourage them to achieve their career goals."
To be eligible for the Northrop Grumman Engineering Scholars program, applicants had to be residents of the San Fernando Valley, graduating seniors in the spring of 2008 from a public or accredited private high school, and had to meet SAT and grade point average requirements. Candidates also had to plan to attend an accredited college or university as a full-time student in an approved engineering program. The funds from the scholarship may be used for tuition, books, lodging and meals.
Northrop Grumman's Navigation Systems Division supplies navigation- and tactical-grade inertial systems and sensors, integrated avionics and vehicle electronics computers and systems, mobile integrated ground and air defense command and control systems, fiber-optic acoustic sensors, identification friend-or-foe systems, and logistics support services for international and domestic defense and commercial markets.
(Photo: http://www.primezone.com/newsroom/prs/?pkgid=5270)
Northrop Grumman Corporation is a global defense and technology company whose 120,000 employees provide innovative systems, products, and solutions in information and services, electronics, aerospace and shipbuilding to government and commercial customers worldwide.
This news release was distributed by PrimeNewswire, www.primenewswire.com
SOURCE: Northrop Grumman Corp.
Don Barteld Northrop Grumman Electronic Systems (818) 712-6179 don.barteld@ngc.com
(C) Copyright 2008 PrimeNewswire, Inc. All rights reserved. ********************************************************************** As of Friday, 07-18-2008 23:59, the latest Comtex SmarTrend� Alert, an automated pattern recognition system, indicated a DOWNTREND on 06-09-2008 for NOC @ $71.78. 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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