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An order that remains in the system for more than a day. See Good-Till-Cancelled or Good-Till-Date.

The average closing price of a stock over a specified period. For instance, the 10-day MA is the average closing price for the past 10 days. Stocks are said to be in an uptrend when above their MA and in a downtrend when below. The most widely followed MAs are 50 days and 200 days. Long-term investors tend to look at the 200-day MA while active traders are more likely to pay attention to the 50-day MA. Many investors look at both. As a general rule, it’s best to avoid stocks trading below both their 50- and 200-day MAs.

Debt instruments. Preferred shareholders are paid ahead of common stock holders in the event the corporation is liquidated. Convertible preferred shares can be converted into common stock according to predetermined conditions.

An investment fund that continuously offers its securities to investors and stands ready to redeem its securities at all times. Transactions in shares/units of mutual funds are based on their net asset value (NAV), determined at the close of each business day. Examples of an open-end fund are traditional mutual funds and exchange-traded funds (ETFs).

Part of the capital market established to buy and sell short-term financial obligations. These include federal government treasury bills, short-term Government of Canada bonds, commercial paper, bankers’ acceptances and guaranteed investment certificates. Longer-term securities are also traded in the money market when their term shortens to three years.

A price gap describes the situation where a stock opens at a price either higher or lower than the closing price the day before. This usually happens when some news affecting the value of the stock is announced after the market closes, e.g., positive or negative earnings, a buy-out, etc. Stocks that gap at the open often move back toward the previous close before moving again, but not always. Strong news such as projected higher earnings from the company tend to drive the stock without the pull back.

An eight or nine-digit number assigned to every order entered into the system.

This is a technical indicator that measures moving average convergence/divergence and provides a measurement of the intensity of the trading of a specific stock. It can provide early clues to trend continuation or reversal. The MACD indicator uses three exponential moving averages: a short or fast average, a long or slow average, and an average of the difference between the short and long averages. When the MACD line is rising, the implications are positive for prices: If the indicator is less than zero, the price is potentially bullish. If the indicator is greater than zero, the price is actually bullish. When the MACD line is falling, the implications are negative for prices: If the indicator is less than zero, the price is actually bearish. If the indicator is greater than zero, the price is potentially bearish.The signal line can be used to determine the entry or exit point. The signal line is a moving average of the MACD line. When signal line crosses MACD line and both lines are up, it is a buy signal. When signal line crosses MACD line and both lines are down, it is a sell signal.

Latest share price divided by book value stated in latest report.

A real estate investment trust (REIT) whose primary business is investing in real estate loans.