THE THEORY
OF
STOCK EXCHANGE SPECULATION.
CHAPTER I.
TECHNICAL TERMS EXPLAINED.
Jobbers and Brokers
The members of the Stock Exchange are of two descriptions, jobbers and brokers. The jobber[9] deals in stocks and shares, either as a buyer or seller, at the market prices. The broker deals with the jobber, and is paid a commission by his principal for transacting the business between the two.
The Bull.
A bull is a speculator who buys for the settlement[10] with a view of selling at some future date at a higher price, and gaining by the difference.