conducting speculative operations on the exchange through the successful buying and selling of securities and other objects of exchange trading in order to make a profit. The simplest game is to use the difference in quotes and rates in different markets; Players buy a commodity in those markets where it is cheaper, and immediately sell it where it is more expensive. A more complex game consists of anticipating changes in rates and quotes in the future and buying or selling commodities and futures contracts in advance on a profitable basis. Distinguish between bullish play (such players are called "bulls") and bearish play (such players are called "bears")
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