TeachMeFinance.com - explain Turn of the market
Turn of the market -- Wall Street term for the point at
which the stock market changes its course.
On the London Stock Exchange the jobber (who is practically
a wholesaler) will buy at one price or will sell at another.
The price midway between that at which he will buy
and that at which he will sell and he will do either is called
the middle price ; the jobber expects to undo or cover his bargain
by a fresli bargain with another jobber at the middle
price ; the turn of the market is the difference between the
middle price and the price at which the jobber bought or sold.
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