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beige book Report on current economic conditions, published by the Federal Reserve Board eight times a year. |
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bellwether A stock or bond that is widely believed to be an indicator of the overall market's condition. See also blue chip. |
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below the market A bid that is lower than the highest bid for a specific security, commodity, or option. |
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bias The tendency to move in a particular direction. This can be market bias, but most of the biases discussed in this book are psychological biases. |
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bid The highest price any buyer is willing to pay for a given security at a given time (opposite of ask). Also, an offer of a specific amount of money in exchange for products and services, as in an auction. An indication by an investor, trader, or dealer, of a willingness to buy a security or commodity. Also called bid price. See also spread and quote. |
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bid-ask spread The difference between the best buying price and the best selling price for any given security. |
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bidding up The rising bid price for a security caused by increasing demand for the security. |
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big board See New York Stock Exchange. |
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block trades A large amount of securities being held or traded, typically at least 10,000 shares of a stock or $200,000 in bonds; transactions of a particular stock sold as a large unit. |
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blue chip Stock of a large, national company with a solid record of stable earnings and/or dividend growth and a reputation for high quality management and/or products. See also bellwether. |
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bond A debt instrument issued for a period of more than one year with the purpose of raising capital through borrowing. Federal, state, and local governments; corporations; and other institutions sell bonds. A bond is generally a promise to repay the principal and a specified interest on a specified date (maturity). |
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book A chronological record of a specialist's inventory of securities and orders that other exchange members have placed with the specialist. Also called specialist's book. |
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breakout The point when a security's market price moves out of its trend channel. A breakout indicates a rise in a security's price above a resistance level (commonly its previous high price) or a drop below a level of support (commonly the former lowest price). A breakout is taken to signify a new higher or lower trend and may be used by technical analysts as a buy or sell indicator. |
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broadcast To make available to the market the identity of a trader and his or her order as posted. |
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broker An individual or firm that acts as an intermediary between a buyer and seller, usually charging a commission. For securities and most other financial products, a license is required. |
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