Іноземна мова профес ...

Fancy Way to Say: American Depositary Receipt, a vehicle used to trade the stock of a foreign company ADRs are negotiable certificates held in a U.S. bank which represent a specific number of shares of a foreign stock. They trade on a U.S. stock exchange. ADRs make it easier for Americans to invest in foreign companies, due to the widespread availability of dollar-denominated price information, lower transaction costs, and timely dividend distributions.

Fancy Way to Say: The Rak man is long! More of a little joke than anything, but whenever I get long a stock I know other people are trading I always shout out "the anchor is in." This let's everyone know I am in and that my powers of stopping momentum, which I can't control, will probably manifest themselves on this stock. The worst is when some of my buddies also call out the same thing on the same stock. The more anchors that are in, the more weight on the stock.

Fancy Way to Say: Arbitrageur An arb is one who profits from price differentials of the same or similar securities in different markets. This profit is considered practically risk free. The more simultaneous these transactions can be made to each other the less risk involved. There are many types of arbitrage. For example, in after hours trading WXYZ may be bid on one ECN at 100 while it is offered on another at 99. An arb, if quick to recognize the opportunity and capitalize can buy from the seller offering 99 and simultaneously sell to the buyer bidding 100. She would recognize a quick one dollar profit which was practically risk free. The only risk involved would be one of the opportunity disappearing after only one transaction was finished.

Fancy Way to Say: Sell A quote is made up of a bid price and an ask, or offer price. An offer is a price at which a seller is willing to sell a security.

Fancy Way to Say: Even When the price of the security is equal to the strike price.

Fancy Way to Say: Double Down Averaging down refers to buying more as a price declines, thus locking in a lower average price on all the total position as compared to the initial purchase price. The idea here is that as the price climbs break even and profit will be much nearer than if only the original purchase was held.

Fancy Way to Say: Follow the Leader Averaging up refers to buying more as a price rises, thus adding to a position as one is proved right about a trade. The idea here is that as the price climbs some of the profits on shares purchased at a lower price can be used to leverage the position and grow it with the price.

Fancy Way to Say: Negative A bear, or one who is bearish, has a negative outlook. So, the bear expects prices to decline. Thus, a bear market is one marked by falling prices, namely lower highs and lower lows.

Fancy Way to Say: Risk Beta is one measure of risk. It measures the volatility of a given security relative to the overall market, usually the S&P 500. A beta above 1 is more volatile than the overall market, while a beta below 1 is less volatile.

Fancy Way to Say: Buy A quote is made up of a bid price and an ask, or offer price. A bid is a price at which a buyer is willing to buy a security.

Fancy Way to Say: Buy so many shares at a specified price While this may have no relevance to internet investors/traders, it is how one would communicate an order to buy to a broker and/or trader. For example, Bid $100 for 1,000 XYZ simply means buy 1,000 shares of XYZ for no more than $100.

Fancy Way to Say: Positive A bull, or one who is bullish, has a positive outlook. So, the bull expects prices to rise. Thus, a bull market is one marked by rising prices, namely higher lows and higher highs.

Fancy Way to Say: Time Decay The price of an option is made up of two components: intrinsic value time value. Intrinsic value is the true value of an option. In other words, it's what the option would be worth if it expired today. It is equal to zero or the amount by which the option is in the money, which ever is greater. Time value on the other hand is the amount of premium one pays to hold the option until expiration. All other things being equal, as the option draws nearer to expiration the time value of the option dwindles. Burn time is another way to talk about the effect time has on an option whose stock is range bound. Meaning, intrinsic value is not increasing to compensate for the loss of time value.

Fancy Way to Say: Contract to buy A call is an option contract which gives the holder the right to buy at a predetermined price before a stated expiration date.

Fancy Way to Say: Separation Used to describe procedures enforced within a securities firm that separate the firm's departments to restrict access to non-public, material information, in order to avoid the illegal use of inside information. For example, information from the analysis or investment banking divisions of a firm are not shared with the trading or brokerage departments as advanced notice of material non-public information could be used to gain an unfair advantage.

Fancy Way to Say: Overtrading Excessive trading in an account can lead to commissions which will not be offset by any gains realized. Too much buying and selling, in other words a lack of selectivity, lead to excessive transaction costs.

Fancy Way to Say: Program Trading Large instituions have models which determine when stocks are undervalued or overvalued. This is done continually on an intraday basis. When stocks are undervalued, they are purchased. When overvalued, the are sold. This is done with a large basket of stocks, usually the S&P500. The idea of over/undervalued is based upon the difference in value between the cash index and the futures. When stocks are below fair value they are undervalued and when they are above fair value they are overvalued.

Fancy Way to Say: Pe Celera Corp. Nickname for PE Celera based on the following inputs: CRA comes from its ticker symbol P comes from being sh*t on so many times by the specialist that crap is quite fitting .COM comes from the genome plays being the dot coms of late 1999-early 2000

Fancy Way to Say: The quote is out of whack When market conditions become rapid and frenzied there will be times when a buyer will bid higher than the current best ask of a seller will offer below the current best bid. On the Nasdaq this becomes a crossed market as the bid is greater than the ask.

Fancy Way to Say: 'Fake' Rally When a security has declined far and fast it will inevitably stage a small rally. If the rally is of the dead cat bounce variety, it is only a breather before continuing the decline. Dead cat bounces will attract some buyers who believe the worst is over. These bottom pickers will often feel pain as the decline resumes. Think about it. Drop a dead cat from a height and it will bounce. But only so high before it turns around and goes guess where?

Fancy Way to Say: Dow Jones Industrial Average Tracking Stock If an investor wants to participate in the performance of the Dow she could buy shares in all 30 of the stocks held in it. Besides a large capital investment this strategy would also incur high commissions. There is however a security which tracks the performance of the Dow. It's nickname is Diamonds based on its ticker symbol, DIA.

Fancy Way to Say: Pump and Dump stock This is a stock whose chart resembles that of the fictitious Graftware Tech. from the E*Trade commercial. If you're not familiar, in the commercial a low level employee logs onto E*Trade to check his stock. He pulls up a chart and sees from about 12-1PM or so it has gone from about 10 to 70. Happy as a clam, he goes up to his boss, Mr. Dinky, and quits. On the way back to his desk he grabs a passerby and kisses her. Upon returning to his desk and refreshing his chart he sees his nestegg has gone back to 10. He runs upstairs to tell Mr. Dinky he was just kidding. Anyhow, that's a Dinky Stock: one that shoots to the moon and returns just as quickly.

Fancy Way to Say: Normal Options Expiration If the third Friday of the month isn't a triple witch then it's a double witch. Since there are four triple witchings a year it leaves the other eight as double witchings. That just means it's a normal options expiration where the following expire: stock options,options on stock index future

Fancy Way to Say: Price Decrease The term downtick is used to explain the change in price in a security when the last trade occurred at a lower price than the previous trade. In others words, the security ticked down.

Fancy Way to Say: Not over or under valued The 'true' difference between the S&P cash index and the futures. While the S&P futures represent the stocks in the S&P500, the price also represents an interest premium as a futures is a contract for delivery at some date in the future. Thus, there is an opportunity cost to holding all the stocks in the S&P500 now versus just holding a contract to own them. Since a futures contract wouldn't tie up nearly as much cash as holding the stocks, this 'interest' would could be earned on the funds is represented in the premium at which the futures trade above the cash index. Fair Value is often expressed as a number, or premium, over cash. For example, if the cash index stands at 1200.00 and fair value is 13, this states the futures should be at 1213.00. If the futures are higher, meaning the premium is above fair value, stocks are undervalued. Conversely, if the futures are lower, it means the premium is less than fair value and stocks are overvalued.

Fancy Way to Say: Execution Fill is shorthand for a trade execution. If you enter an order to buy and you order gets executed, it is said to be filled. Or, you received a fill.

Fancy Way to Say: Analysis of the facts Any fact you can uncover regarding a security is considered part of the fundamentals regarding the security. Example of fundamentals: Sales P/E ratio News release CEO

Fancy Way to Say: Corning Nicknames for Corning based on its ticker, GLW. Glass comes from it being in the business of fiber and the first two letters of the ticker, GL, hence GLass. Glue comes from the pronunciation of the ticker if you were to spell it out: G - L - W (double U), hence GLUU, or GLUE.

Fancy Way to Say: Goldman Sachs Shorthand for this major market maker always present on the Level II.

Fancy Way to Say: Fake Move Similar to a dead cat bounce, except that is performed by a specialist or a market maker. The specialist or MM will make a stock 'look' strong in an effort to bring out buyers when her real intention is to sell. But, instead of advertising those true intentions, she does the opposite in order to sell. This temporary buying usually ends quickly and is followed by a reversal. The same can happen in the opposite direction, with apparent weakness being used as a buying opportunity by the knowing party.

Fancy Way to Say: Offset, Protect No, we're not talking bushes or shrubs. Instead, the term hedge is generally used to mean offsetting a position. It can also refer to protecting a profit. For example, if one is long 100 shares of XYZ but is wary of potential disaster, she can 'hedge' her position by buying a put against IBM. This insurance is used in case her feeling is right and XYZ does go into a coma.

Fancy Way to Say: Sell Since the bid price represents the price at which an investor is willing to buy, by telling a broker/trader to hit the bid one is instructing them to sell. In other words, hit that buyer, take out that buyer's stock.

Fancy Way to Say: Profitable In the case of a call option, when the price of the security exceeds the strike price. For a put option, when the price of the security is below the strike price.

Fancy Way to Say: KLA-Tencor Just a nickname for KLA-Tencor based on its ticker symbol, KLAC.

Fancy Way to Say: Kulicke & Soffa Just a nickname for Kulicke & Soffa based on its ticker symbol, KLIC.

Fancy Way to Say: Long term options Regular options contracts tend to go out only as far as nine months. For the investor which wants to make an options play on a security which goes out a year or longer she uses LEAPS.

Fancy Way to Say: Partially close a position There are several options strategies which involve the purchase or sale of multiple, different contracts. The contracts can differ in strike price, expiration date, or both. Some such strategies include: straddles, strangles, combinations, spreads. When one legs out of a position she closes one side of the multiple contract position while leaving the other open

Fancy Way to Say: The Rak man is short! More of a little joke than anything, but whenever I get short a stock I know other people are trading I always shout out "the life raft is afloat." This let's everyone know I am in and that my powers of stopping downward momentum, which I can't control, will probably manifest themselves on this stock. The worst is when some of my buddies also call out the same thing on the same stock. The more life rafts that are in, the more strength to the stock.

Fancy Way to Say: Owning stock When you own shares of a company you are said to be long the stock. If you plan on buying the stock you are looking to get long, or get long.

Fancy Way to Say: Microsoft Just a cute little nickname for Microsoft based on its ticker symbol, MSFT.

Fancy Way to Say: Market Maker A market maker is a firm responsible for 'making a market', or providing liquidity, in a stock. It takes the risk of being a buyer(seller) of last resort when needed. On the New York Stock Exchange there is only one market maker for each stock, the specialist. A specialist can make a market for more than one stock, but each stock does have only one specialist. However, on the Nasdaq a stock can, and in the case of more liquid stocks, often does have more than one market maker. Each market maker is responsible for posting its best bid and best offer on the stock. This information is available in a Nasdaq Level II display

Fancy Way to Say: Morgan Stanley Dean Witter Shorthand for this major market maker always present on the Level II. It is based on its Level II initials, MSCO.

Fancy Way to Say: Un-hedged Being naked in a position means there is no protection against an adverse move. In other words, the position is exposed to a move counter to that which is expected.

Fancy Way to Say: Midday Rally Whenever a rally occurs during the day's doldrums we've come to call it a noon balloon. It can however happen at any slow, midday hour, not just 12:00PM. These are tough to game as they usually come at a time of day when volume is thinnest. This presents the problem that they can end just as quickly as they began. A close relative of the noon swoon.

Fancy Way to Say: Midday Sell-off Whenever a sell-off occurs during the day's doldrums we've come to call it a noon swoon. It can however happen at any slow, midday hour, not just 12:00PM. These are tough to game as they usually come at a time of day when volume is thinnest. This presents the problem that they can end just as quickly as they began.

Fancy Way to Say: Sell so many shares at a specified price While this may have no relevance to internet investors/traders, it is how one would communicate an order to sell to a broker and/or trader. For example, Offer 1,000 XYZ at $100 simply means sell 1,000 shares of XYZ for no less than $100.

Fancy Way to Say: Not Profitable In the case of a call option, when the price of the security is below the strike price. For a put option, when the price of the security exceeds the strike price.

Fancy Way to Say: Too Far Too Fast There are many technical indicators which can be used when charting securities. There is a family of indicators called oscillators which signal when a security has moved too far too fast in a particular direction. Overbought indicates a security has run up much more than is usual for the it in a given period of time. Conversely, oversold indicates a security has sold off much more than usual in a given amount of time. The indicator implies the security is due for a breather. Many will interpret a breather as a reversal. That is, a security which is oversold is due for an upside bounce while an overbought security would be due for a decline. However, the way oscillators are designed, an overbought security can leave the overbought area simply by churning sideways for a time. The same holds true for and oversold condition. As with all indicators, it is just one piece of a larger puzzle and its use is often more effective when coupled with other analysis.

Fancy Way to Say: Pe Biosystems Nickname for PE Biosystems based on its ticker, PEB.

Fancy Way to Say: Contract to sell A put is an option contract which gives the holder the right to sell at a predetermined price before a stated expiration date.

Fancy Way to Say: Nasdaq 100 Tracking Stock If an investor wants to participate in the performance of the Nasdaq 100 she could buy shares in all 100 of the stocks held in it. Besides a large capital investment this strategy would also incur high commissions. There is a security which tracks the performance of the Nasdaq 100. It's nickname is the Qs based on its ticker symbol, QQQ.

Fancy Way to Say: Xerox Slang for Xerox (XRX).

Fancy Way to Say: Holding a net negative share position in a stock While owning stock, or being long, is a way to profit from price appreciation, there must be a way to profit from a decrease in price. One can do so by shorting a stock. When one is short, she actually carries a negative share position.

Fancy Way to Say: 'Fake' Buying There are two types of purchases in the investment world: purchase to go long; purchase to cover a short. Initiating a long is considered 'real' buying in that a position of ownership is being initiated. This position is meant to participate in the appreciation of the security. However, there are also those which are short a given security. And from time to time an event will happen which leads shorts to want to cover, sometimes at any price. This leads to furious, get out at any cost, buying. When this happens seemingly incredible rallies appear, taking out offers with a vengeance. But, it's not looked at as 'real' buying as once the shorts are done covering who will be left to continue buying? The bids will disappear and the security will generally return to more natural levels.

Fancy Way to Say: Lock in a gain on a long position without closing the long What happens when: you're long with a hefty gain; you don't want to close your long and incur a large tax event; you believe the stock will trend lower for a while before turning to the upside again? The answer? Short the box. What one does is sell short against their long position. This is different than closing the long. Instead of having no position in the stock, one will be both long as well as short the same quantity of stock. While the net effect is that of holding no shares, the long was not sold. Thus, there is no tax effect. Gains are locked in up to that date as any fall in the long position is offset by the gain from holding the short. Conversely, if the stock continues to climb, gains from the long are offset by the loss in the short position. When the short sale is closed it creates a taxable event. The gain or loss will be reported. But once again the holder will be long the stock and resume participating in the appreciation of the shares. Or taking part in the fall.

Fancy Way to Say: Large order When a larger than average order takes place in a stock it is said to be in size. For a thin stock which trades 20,000 shares a day and rarely sees one individual trade of more than 1,000 shares size may be anything in the realm of four figures. For a highly liquid stock size may mean in the hundreds of thousands. It's all relative but comes down to the individual issue.

Fancy Way to Say: Schlumberger Shorthand for the stock based on its ticker symbol, SLB.

Fancy Way to Say: S&P 500 Futures Just a bit of shorthand. What do you think is easier to say? Hey, look at the S&P 500 futures rally! or Hey, look at the spoos rally!

Fancy Way to Say: S&P 500 Tracking Stock If an investor wants to participate in the performance of the S&P 500 she could buy shares in all 500 of the stocks held in it. Besides a large capital investment this strategy would also incur high commissions. There is however a security which tracks the performance of the S&P 500. It's nickname is the Spyders based on its ticker symbol, SPY.

Fancy Way to Say: Inktomi Not the most creative nickname in the world, but one we happen to like.

Fancy Way to Say: Stated price of an option contract An option contract states the price at which the security can be bought/sold if exercised. This price is the strike price.

Fancy Way to Say: Charting Technical analysis refers to the use of past price and volume date to try and predict future trends.

A derogatory term used for a stock which used to trade in higher realms but has fallen back to the teens.

Fancy Way to Say: 1/16th Tis much easier to say tennie than sixteenth. 5/16ths would be 5 teenies.

Fancy Way to Say: American Telephone & Telegraph, Ma Bell, AT&T Nickname for the stock based on its ticker symbol, T.

Fancy Way to Say: Mass Derivative (i.e. options, futures) Expiration Four times a year, on the third Friday of the quarter ending month (March, June, September, December) three different types of derivatives related to stocks expire: Options on Individual Stocks; Options on Stock Index; Futures; Stock Index Futures. The 'mass' expiration can cause wild gyrations and false moves in prices as contracts are covered, rolled over, etc.

Fancy Way to Say: Time Warner Nickname for the stock based on its ticker symbol, TWX.

Fancy Way to Say: Price Increase The term uptick is used to explain the change in price in a security when the last trade occurred at a higher price than the previous trade. In others words, the security ticked up.

Fancy Way to Say: Show the Mutual Fund Holders What They Want to See Mutual Funds send out quarterly reports to their holders which detail, among other things, the Fund's holdings as of the end of the quarter. This happens four times a year (March, June, September, December). What happens on the last day of the quarter is fund managers will want to get some of the quarter's biggest winners into the portfolio to show investors they do own these big gainers. Also, they may blow out the big losers so as not to be invested in a 'dog'. These last minute shenanigans cause exaggerated moves in these stocks.

Fancy Way to Say: Price Decrease happened recently A zero minus tick is one in which the last trade price is the same as the previous trade price, but it is less than the most recent different price. In other words, the last time the price changed, it happened on a downtick.

Fancy Way to Say: Price Increase happened recently A zero plus tick is one in which the last trade price is the same as the previous trade price, but it is more than the most recent different price. In other words, the last time the price changed, it happened on an uptick.