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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, June 06, 2008
Young Broadcasting Inc. Receives NASDAQ Notice of Non-Compliance
Comtex
NEW YORK, Jun 06, 2008 (BUSINESS WIRE) ----Young Broadcasting Inc. (the "Company") today announced that on June 3, 2008, the Company received a notice of non-compliance from the Listing Qualifications Staff of The NASDAQ Stock Market (the "Staff") stating that the Company had not regained compliance with the minimum $15 million market value of publicly-held shares requirement for continued listing set forth in Marketplace Rule 4450(b)(3) (the "Rule"). As a result, the Company's securities are subject to delisting. This notice follows the Company's previous announcement on March 3, 2008 that it had received notification from the Staff stating that the Company's common stock had not maintained the required minimum $15 million market value of publicly held shares over the previous 30 consecutive trading days, and, in accordance with Marketplace Rule 4450(e)(1), providing the Company with 90 calendar days, or until June 2, 2008, to regain compliance.
The Company intends to request a hearing before a NASDAQ Listing Qualifications Panel to present its plan to evidence compliance with the Rule and all other applicable NASDAQ listing requirements. The hearing request will stay the delisting of the Company's common stock pending the Panel's decision. The Company cannot assure you that the Panel will grant the Company's request for continued listing.
About Young Broadcasting
Young Broadcasting owns ten television stations and the national television representation firm, Adam Young Inc. Five stations are affiliated with the ABC Television Network (WKRN-TV -- Nashville, TN, WTEN-TV -- Albany, NY, WRIC-TV -- Richmond, VA, WATE-TV -- Knoxville, TN, and WBAY-TV -- Green Bay, WI), three are affiliated with the CBS Television Network (WLNS-TV -- Lansing, MI, KLFY-TV -- Lafayette, LA and KELO-TV -- Sioux Falls, SD), one is affiliated with the NBC Television Network (KWQC-TV -- Davenport, IA) and one is affiliated with MyNetwork TV (KRON-TV -- San Francisco, CA).
Any statements in this press release that are not historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Readers are advised that such forward-looking statements are subject to risks and uncertainties that could significantly affect actual results from those expressed in any such statements. Readers are directed to Young Broadcasting's Annual Report on Form 10-K for the year ended December 31, 2007, as well as its other filings from time to time with the Securities and Exchange Commission, for a discussion of such risks and uncertainties. Statements included in this press release are based upon information known to the Company as of the date of this press release, and the Company assumes no obligation to update or revise the forward-looking statements contained in this press release, except as otherwise required by applicable federal securities laws.
SOURCE: Young Broadcasting Inc.
Young Broadcasting Inc. Vincent Young, Chairman James Morgan, Chief Financial Officer 212-754-7070 or The Lippin Group Don Ciaramella, 212-986-7080
Copyright Business Wire 2008 ********************************************************************** As of Monday, 06-02-2008 23:59, the latest Comtex SmarTrend� Alert, an automated pattern recognition system, indicated a DOWNTREND on 11-09-2007 for YBTVA @ $1.77. 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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