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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.
Home / Markets / Industries / Technology
Friday, May 09, 2008
CleverSet Selected as Finalist for the Alliance of Angels' Company of the Year Award
Comtex
CAMBRIDGE, Mass., May 09, 2008 (BUSINESS WIRE) ----ATG (Art Technology Group, Inc.), the top ranked e-commerce platform and optimization services provider, today announced CleverSet, recently acquired by ATG, has been selected as one of three finalists for the "Company of the Year" award given by the Alliance of Angels (AoA), a program of the Technology Alliance based in Seattle, Washington. CleverSet was recognized for its patented technology and business leadership. Since being acquired by ATG, CleverSet has been folded into the company's eStara line of ecommerce optimization services and is now called eStara Recommendations.
The award honors and encourages the entrepreneurial spirit of new businesses in the Pacific Northwest. Finalists were chosen based upon their entrepreneurial spirit, traction with investors, progress toward meeting business plan goals, and positive impact on the technology economy. The AoA represents the Northwest's most experienced and best-networked private investors, with expertise in high-tech and high-growth companies.
"The Company of the Year award honors pioneering companies that demonstrate entrepreneurial excellence and drive new business practices in the Pacific Northwest," said Rebecca Lovell, Program Director, Alliance of Angels. "We are impressed by the quality, innovation, and talent of businesses and technologies this year, reflected in the strength of the finalist pool."
The Company of the Year will be presented at the 2008 Technology Alliance's State of the Technology Luncheon, May 9 at the Westin, Seattle, Washington. More than 800 businesses, research and government leaders will convene at the luncheon this year to celebrate Washington's progress in building a vibrant technology-based economy.
Washington-based CleverSet, now eStara Recommendations, helps e-commerce companies and content providers significantly increase their revenues by enabling a truly personalized experience for each and every online visitor. The most powerful solution in the market today, only eStara Recommendations uses Statistical Relational Learning (SRL) as the core technology behind its recommendation service. Powerful predictive algorithm automatically tracks, analyzes, and leverages a wide range of product, shopper, and clickstream information, requiring no manual specification by the retailer or the online shopper. Incorporating more data means eStara Recommendations generates better informed and more effective recommendations, so Web shoppers can more easily discover and purchase their most personally relevant and appealing items.
"We are honored to be in the running amongst such a talented group of entrepreneurs for the Company of the Year award and to be recognized for our unique automated personalization technology." said Todd Humphrey, VP OnDemand Personalization, ATG. "It's already been a great year with the joining of ATG and we look forward to even more successes in the near future."
About the Alliance of Angels
The Alliance of Angels is a group of private investors who invest in early-stage technology companies that are based in Washington state or the vicinity. The organization represents the Northwest's most experienced and best-networked private investors, with substantial experience in software, hardware, telecommunications, Internet infrastructure, e-commerce, finance and biotech. For more information, visit www.allianceofangels.com.
The Alliance of Angels is a non-profit organization, and collects no fees, securities, warrants, or payments of any sort from entrepreneurs. This forum is viewed by the members as a community service that ultimately benefits the general local technology economy. More information on the mission of the Alliance of Angels and its parent organization, the Technology Alliance, can be found at www.technology-alliance.com.
About ATG
ATG (Art Technology Group, Inc., NASDAQ: ARTG) provides the e-commerce platform and e-commerce optimization services that the world's most customer-conscious companies use to power their e-commerce Web sites, attract prospects, convert them to buyers and ensure their satisfaction so they become loyal, repeat, profitable customers. Our e-commerce suite is ranked the #1 current offering and #1 in strategy by the industry's most influential analyst firms, and powers more of the top 300 internet retailers than any other vendor. Our eStara brand of e-commerce optimization services - including the world's most widely used click to call offering - dramatically increase conversions and order size and enhance customer support. ATG's solutions are used by over 900 major brands, including AT&T, Best Buy, Bulgari, Coca Cola, Continental Airlines, CVS, Dell, Diane von Furstenberg, DirecTV, eLuxury, El Corte Ingles, Expedia, France Telecom, Harvard Business School Publishing, Hewlett-Packard, Hilton, HSBC, Intuit, Jenny Craig, Louis Vuitton, Macy's, Mercedes Benz, Meredith, Microsoft, Neiman Marcus, New York & Company, NutriSystem, OfficeMax, PayPal, Philips, Procter & Gamble, Sears, Sony, Symantec, Target, T-Mobile, Tommy Hilfiger, Urban Outfitters, Verizon, Viacom, Vodafone and Walgreens.
This press release contains forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Further details on these risks are set forth in ATG's filings with the Securities and Exchange Commission. These filings are available free of charge on a website maintained by the SEC at http://www.sec.gov. Additional risk factors related to the subject matter of this press release include: the possibility that eStara's product and service deployments will not be successful, on time or significantly enhance the user's Internet experience; the need to adapt to rapid changes so products and services do not become obsolete; the possibility of errors in eStara's software products and services; the possibility that eStara's offerings will not enhance its customers' online sales or otherwise provide the expected benefits to its customers; and the possibility that eStara's product strategy may change in the future. eStara and ATG undertake no obligation to update any of the forward-looking statements after the date of this press release.
SOURCE: Art Technology Group, Inc.
ATG Tucker Walsh, +1 617-386-1159 twalsh@atg.com http://www.atg.com/ or Matter Communications Charna Cummings, +1 978-499-9250 charna@matternow.com http://www.matternow.com/
Copyright Business Wire 2008
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