Same-Day Substitution

Changes over the course of a single trading day within a margin account that do not result in a change to the account’s net balance.


A price chart pattern where a security’s price falls to a low, then increases from that low, suggesting the down trend has concluded.

Savings Bond

U.S. government issued bond sold to the public.


A trading strategy designed to accrue trading profit on small incremental price changes in a security, resulting in a higher volume of trades placed, rather than waiting on large movements in price.

Sector Fund

A mutual fund which invests entirely within a singular industry sector.

Secular Trend

A variable with a consistent directional behavior over a long period of time.


An alternate term for investment instruments (debt and equity) transacted in exchange markets.

Serial Bond

A bond that reaches maturity over several years.