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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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Thursday, May 08, 2008
Have a Stimulus-payment Question? Ask the IRS
Andrea Coombes
MarketWatch
![IRS Emblem [368]](/images/stories/irs.jpg)
SAN FRANCISCO--About 7.7 million taxpayers received their stimulus payments in the week ending May 2, but plenty of other eager taxpayers are asking when their checks will arrive, according to the IRS.
Direct-deposit payments started last week, and the first round of paper checks will be produced Thursday, the IRS said. The exact date you receive a stimulus check will depend on when you filed your tax return and on the last two digits of your Social Security number.
The IRS expects to send out a total of about 130 million payments. Already, people with questions about the payments are calling the IRS and visiting its Web site.
"The most common question has been when people can expect their payments," the IRS said in a news release.
In a word: When?
For instance, one common question is: "I filed after April 15 and the payment date for my Social Security number has passed. How long will it take for me to get my stimulus payment?"
The answer: In general, it will take at least six weeks after you file your return to get your stimulus payment, the IRS said.
Or, maybe you filed on time and are wondering why your payment is not yet in your bank account, even though your Social Security number should put you in the early group of payment recipients?
The answer: The payment schedule only applies if the IRS finished processing your return before April 15. If you filed your return on time, but close to the April 15 deadline, the IRS may not have finished processing it before April 15.
Note that if you're expecting a regular income-tax refund, you'll get that first and your stimulus payment should follow one to two weeks later. If you are not expecting a regular tax refund, your stimulus payment won't arrive for at least six weeks after you file, the IRS said.
Also, if you chose direct deposit and requested a refund anticipation loan or had your refund deposited into more than one account, you will receive a paper check based on the distribution schedule for paper checks.Copyright © 2008 MarketWatch, Inc.
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