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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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Monday, June 23, 2008
ESI Clarifies US Situation
Comtex
BURNABY, BC, Jun 23, 2008 (Canada NewsWire via COMTEX) ----ESI Entertainment Systems Inc. ("ESI") (TSX:ESY) a leading provider of secure payment processing services to international e-commerce industries, today clarifies the Company's position regarding the Deferred Prosecution Agreement ("DPA") entered into with the United States Attorney's Office for the Southern District of New York ("USAO").
In recent news articles it was incorrectly stated that ESI and its subsidiary, Citadel Commerce, had pleaded guilty to charges in New York federal court.
To clarify, ESI entered a not guilty plea and has maintained its right to a full trial on the government's charges. Pursuant to the Company's agreement with the USAO, any prosecution of the Company has been deferred and the government has agreed to dismiss all charges at the end of 18 months if the Company complies with the terms of the DPA.
Pursuant to the DPA dated June 3, 2008 and entered by the New York federal court on June 5, 2008, the Company agrees to maintain the following permanent restrictions: (i) ESI will not participate in illegal gambling transactions involving persons located in the United States; (ii) ESI will maintain procedures and controls designed to prevent its services from being used to conduct or process illegal U.S. Gambling Transactions; (iii) ESI agrees to monitor regularly the effectiveness of its procedures and controls designed to prevent its services from being used to conduct or process illegal U.S. Gambling Transactions, and ESI will revise and update its procedures and controls as necessary to achieve such purpose.
About ESI Entertainment Systems Inc.
ESI Entertainment Systems Inc. ("ESI") (TSX: ESY) provides products and services to the international gaming and payment processing industries through its three principal subsidiaries, Citadel Commerce Corp., ESI Integrity Inc. and PlayLine Inc. ESI's products and services, which primarily consist of payment processing, transaction monitoring and turnkey gaming platforms, are deployed in the on-line and land based gaming markets.
SOURCE: ESI Entertainment Systems Inc.
please contact: ESI Entertainment Systems Inc., Tony Greening, Chief Executive Officer, Telephone: (604) 299-6922, email: tgreening@esi.ca, Web: www.esi.ca
Copyright (C) 2008 CNW Group. All rights reserved.
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