The McClellan Summation Index is a long-term version of the McClellan Oscillator. It is a market breadth indicator, and interpretation is similar to that of the McClellan Oscillator, except that it is more suited to major trends. Usually, a small number of stocks making large gains characterizes a weakening bull market. This gives the perception that the overall market is healthy, but in reality it isn't, as rising prices are being driven by a small number of stocks. Conversely, when a bear market is still declining, but a smaller amount of stocks are declining, an end to the bear market may be near.
A statistical technique used to reduce the differences between variables in order to classify them into a set number of broad groups. In finance, this technique is used to compress the variance between securities while also allowing the person to screen for several variables. It is related to discriminant analysis, which, in simplified terms, tries to classify a data set by setting a rule (or selecting a value) that will provide the most meaningful separation. Although this technique requires a fair bit of mathematics, it is relatively simple. MDA allows an analyst to take a pool of stocks and focus on the data points that are most important to a specific type of analysis, shrinking down the other differences between the stocks without totally factoring them out. For example, MDA can be used for selecting securities according to the statistically-based portfolio theory set forth by Harry Markowitz. Properly applied, it will factor out variables like price in favor of values that measure volatility (beta) and historical consistency. Edward Altman is famous for using multiple discriminant analysis in creating the Altman-Z score.
A type of order that comprises several limit orders at incrementally increasing or decreasing prices. If it is a buy scale order, the limit orders will decrease in price, triggering buys at lower prices as the price starts to fall. With a sell order, the limit orders will increase in price, allowing the trader to take advantage of increasing prices, thereby locking in higher returns. Taobiz explains Scale Order For example, if a trader believes that a stock will fall over the course of the day, a scale order will help him or her take advantage of the lower price if the prediction is correct. If the trader wants to purchase 1,000 shares of the company, he or she may scale the limit orders so that 100 shares are bought for every $0.50 fall in price.
The process of purchasing shares as the price decreases. To scale in (or scaling in) means to set a target price and then invest in increments as the stock falls below that price. This buying continues until the price stops falling or the intended trade size is reached. Scaling in will, ideally, lower the average purchase price. If the stock does not come back to the target price, however, the investor ends up purchasing a losing stock. Taobiz explains Scale In Scaling in gives an investor the option of buying additional stock as the price drops. For example, if a stock is worth $20 and an investor wants 1,000 shares, he or she can scale in, rather than purchasing all the shares at once. When the price reaches $20, the investor could buy 250 shares right away, then 250 shares at $19.90, 250 at $19.80 and 250 at $19.70. If the stock price stops falling, the investor would stop scaling in. The average purchase price would then be $19.85, rather than $20.
A charting trend in which a stock price's high and low for the day exceed those of the preceding day. Depending on where the outside reversal occurs, it may signal either a bearish or bullish price movement. If the reversal occurs at the stock's resistance level, it is viewed as bearish. In contrast, if it occurs at the stock's support level, it is viewed as bullish.
When management and employees borrow money to invest in their failing company in an attempt to save it. Essentially, a savior plan precedes a management and employee buyout. Taobiz explains Savior Plan After a savior plan is put into place, one could say that the company is "employee-owned". This type of plan can fail because of high borrowing costs, which may not be paid back quickly enough to obtain a return on the investment. Also, savior plans do not guarantee that the company will begin to operate efficienctly after the buyout.
The movement of a security's price. Price action is encompassed in technical and chart pattern analysis, which attempt to find order in the sometimes seemingly random movement of price. Swings (high and low), tests of resistance and consolidation are some examples of price action. The candlestick and price bar are important tools for analyzing price action, since they help traders visualize of price movement. Candlestick patterns such as the Harami, engulfing pattern and cross are all examples of visually interpreted price action. No two people will analyze every bit of price action the same way, and that is why a lot of traders find the concept of price action so elusive. Quite literally, price action is everything that a security's price does, and just like every other facet of analysis, it is purely subjective.
A filing with the Securities and Exchange Commission (SEC), also known as the Initial General Form for Registration of Securities, required when a public company issues a new class of stock through a spin-off. SEC Form 10-12B contains information about the original shares issued, the new shares affected and information about how and on which exchange the new shares will trade. Taobiz explains SEC Form 10-12B Spin-offs often leave many investors scratching their heads and wondering what exactly this new company does. Thankfully, SEC Form 10-12B usually contains a substantial information letter or "narrative" that outlines the reason for the spin-off, the potential strengths and weaknesses of the new company and the outlooks for new companies industry. Related Forms: SEC Forms 10-12B/A, 10-12G, 10-12G/A
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