多头和空头（牛与熊）
Long and short (bull and bear)
“多头”是什么意思? 这个名词是指指望股票价格上涨的投资者。多头预计市场价格会上涨而买进股票。
What do you mean by "long"? A term that refers to an investor who expects an increase in stock prices. Long expected market prices will rise and buy stocks.
当然，市场价格不会总是上涨。有时，股票下跌并在持续的一段时间里保持低的价格。指望股票价格下降的投资者被称为“空头”。在大萧条时期，做空头的赚了大笔的钱。做多头的买空；做空头的卖空。
Of course, the market price will not always rise. Sometimes, stocks fall and keep prices low for some time. Investors who expect a decline in stock prices are called "bears" ". During the great depression, the short sellers made large sums of money. Long long; short selling.
买空是指买进股票以便宜的价格上涨时卖出。如果市场价格下降，惟一能收回资金的办法是持留股票，等待市场的回升。卖空是指卖出的不是你所拥有的股票，以便在价格下跌时补进。举例来说，如果你听说IBM公司将宣布很低的赢利，估计IBM股票价格将从70美元降至65美元，你就可以卖空IBM股票，即告诉你的经纪人从经纪行某客户帐面上借出这种股票，在股票跌到65美元时补进。当然，不要忘记，如果股票价格上涨而不是下跌，你将必须以较高的价格补进股票，因而损失卖出价和补进价之间的差额。所以，卖空的做法可能是很危险的。
Long refers to buying the stock sold at cheap prices. If the market price declines, the only way to recover the funds is to hold stocks, waiting for the market to pick up. Short selling is not what you have in stock, so that you can make it up when the price falls. For example, if you hear of IBM company will announce very low profit estimated IBM stock price will be from $70 fell to $65, you can short selling shares of IBM, tell your broker from the broker for a customer book to borrow the stock, the stock fell to $65 fill in. Of course, don't forget, if stock prices rise rather than fall, you will have to be covered in the stock at a higher price, and lost the selling price and the complement of the difference between the purchase price. Therefore, the practice of short selling may be very dangerous.
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