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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
Do Your Homework Before Buying Jewelry
Marshall Loeb
MarketWatch
![Jewelry [368]](/images/stories/jewelry_368.jpg)
NEW YORK--With Mother's Day just days away, you might be one of those stragglers still deciding what to get mom. Jewelry is a great gift idea, but it is also one filled with pitfalls. Unless you're an expert, precious metals and stones are impossible to value by sight alone.
You'll want to do your homework before making your purchase or you take the risk of not getting what you think you're getting. Consider these pointers from Consumer Reports before buying that bracelet or earrings for mom:
Know your karats. The price of gold varies with karat number (a unit of fineness), weight, design, finishing (by hand vs. machine) and country of origin. Pure gold, 24 karat, is too soft to be molded into jewelry, so it's mixed with other metals. Changes in gold's color result from the metal mix-in. Anything less than 10 karat, about 42% gold, can't legally be sold as gold. "Fill," "overlay" or "electroplate" indicates a thin gold coating.
Buy from a certified gemologist belonging to a group such as the GIA, Jewelers of America or American Gem Society. Also ask friends for names of jewelers they trust. Make sure the dealer allows plenty of time to return jewelry for a refund.
You might save online, where markup is low, but you won't see the jewelry firsthand. Gem and mounting might be sold a la carte, and sizing could cost extra. Check out www.diamondtalk.com and www.pricescope.com, where consumers share experiences.
Be aware that chain stores are likely to charge less than local jewelers but their salespeople might be less knowledgeable.
Don't buy promises of huge discounts. "Ninety-five percent of the discounts I see are fictitious," says jeweler David Nytch, a certified gemologist appraiser who has worked in retailing, "because the pieces are vastly overpriced to begin with."
Consider the source. Under a voluntary international system, the diamond industry has agreed to keep a paper trail as diamonds move from mine to store. The system isn't perfect, but it can help buyers avoid "blood diamonds" that have financed conflicts in Africa. Ask to see a written guarantee on the invoice that comes with every stone. There's also an international effort to ensure that gold-mining operations respect human rights and the environment. For a list of retailers that support the campaign, go to www.nodirtygold.org. Visit the site.
Pay with a major credit card. It might give you recourse if problems arise.
If you've bought expensive jewelry, have it valued by an appraiser certified by the American Society of Appraisers (Go to www.appraisers.org or call 800-272-8258).
If you suspect you've been taken, contact the Jewelers Vigilance Committee (www.jvclegal.org). For $75, its dispute-resolution service mediates between buyer and seller.
Copyright © 2008 MarketWatch, Inc.
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