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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 02, 2008
Online Home Auctions Attract and Empower Homebuyers in the Current Housing Market
Comtex
NEWPORT BEACH, Calif., June 2, 2008 /PRNewswire via COMTEX/ ----Most will agree it is a buyer's market and there are plenty of qualified homebuyers out there just waiting for the right opportunity to come along. They are also beginning to realize that foreclosures are not the only good deals available, but that deals can be found on brand-new, never-lived-in homes as well.
As the nation's leader in online new home auctions, the LFC Group of Companies is offering these homebuyers a better way to find and purchase a new home on their residential auction website Freedom Realty Exchange (http://www.FRE.com).
"Over the past 18 months, since this downward spiral began, I have been talking to builders, developers and financial institutions and they are finally realizing that an online auction is one of the best solutions for getting out of this slump," says Bill Lange, president of the LFC Group of Companies. "Sellers get what we do, and buyers are no exception. Today's homebuyers are already conducting much of their research over the Internet; the Freedom Realty Exchange is just taking it to the next level. They feel empowered because they ultimately determine the price of the homes."
Over the past year, the LFC Group of Companies has offered thousands of brand-new homes across the nation via online auction on FRE.com. Most recently, the company sold and closed homes in some of the toughest markets in the country, including large single-family homes in the California Central Valley, resort homes on the Florida coast and golf community homes in the Arizona desert.
For years, the LFC Group of Companies has been developing sophisticated web-based auction technology to benefit both buyers and sellers, and separate their auction marketing services from their "outcry" competitors. Traditional outcry auctions conducted in hotel ballrooms or convention centers can be risky because of the likely scenario of a disproportional ratio of inventory to actual bidders in the audience.
But with an online auction, sellers are able to adequately gauge the interest of each registered bidder and distinguish the serious and qualified ones from the rest. Online auctions also eliminate the pressure that is typical in an outcry auction by giving bidders ample time to confidently place their next bid. Such serious, qualified and confident bidders translate into a better success rate of selling and closing homes.
In addition to the advantages for sellers, buyers appreciate the transparency of the online bidding process, and enjoy the convenience of conducting their due diligence in their own time. Unlike foreclosure auctions that roll into town for a single weekend, the homes in each Freedom Realty Exchange auction are open and staffed for 45 to 60 days before the bid deadline, giving prospective buyers ample opportunity to tour the homes.
And when they are finally ready to place their bids, rather than having to waste an entire day in a chaotic hotel ballroom or convention center, bidders are able to do so with the click of a mouse from the comfort and privacy of their own home or office.
"We must be doing something right, as more and more of our new registered bidders have been family and friends of past bidders," comments Kelly Lovegrove, Director of Operations. "These referrals are a testament to buyers understanding and embracing the Freedom Realty Exchange online auction process as the way of future home buying."
According to Lange, the number of registered users/bidders on FRE.com has more than tripled since last year. 2007 was a record breaking year for the company, with aggregate sales up tenfold over 2006, and 2008 promising to surpass the previous year's statistics in terms of unique visitors to the website, registered bidders, inventory and sales.
The fact is that the housing market will take some time to recover, but there is a silver lining. Sellers are motivated to sell, buyers are looking for a deal and online auctions are the most effective way to bring them together.
Media Contact: Ashley Carvalho
949.706.6135 acarvalho@lfc.com
SOURCE LFC Group of Companies
http://www.lfc.com
Copyright (C) 2008 PR Newswire. All rights reserved
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