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Wave
In Elliott wave theory, a sustained move by a market's price in one direction as determined by the reversal points that initiated and terminated it.
Wave Cycle
An impulse wave followed by a correction wave, the impulse wave being made up of five smaller, numbered waves of alternating direction designated 1, 2, 3, 4 and 5, and the correction wave being composed of 3 smaller alternating waves designated a, b, and c.
Weak Hands
A term referring to people who believe that declining markets will decline further because traders with long positions are not bona fide hedgers and will not accept delivery but will sell before maturity to reduce their risk.
Wealth Maximization
A strategy of maximizing the value of the shareholder's or owner's investment in a company, measured by the market value of the company's shares.
Wedge
Refers to a technical chart pattern of two converging lines connecting a series of peaks and troughs to form a wedge. The converging lines move in the same direction with one line rising while the other line falls or one line rising or falling while the other line stays horizontal. Rising wedges occur as interruptions of a falling price trend and falling wedges occur as temporary interruptions of upward price rallies.
Weighted Industry Index
An index where the importance of each stock is related to its market capitalization.
Whipsaw
Losing money on both sides of a price swing.
Wildcards
Characters in a quote symbol or Dos file name that indicate an undefined, but categorized, value.
Williams' %R
Overbought and oversold indicator that is used to determine market entry and exit points.
Wilshire 5000 Equity Index
Refers to a market value-weighted index of about 6,500 U.S. based equities traded on the American Stock Exchange, the New York Stock Exchange and the NASDAQ stock market. The Wilshire 5000 is prepared by Wilshire Associates, Inc. of California and is widely followed as an indicator of the broad trend in stock prices.
Winnipeg Commodity Exchange (WSE)
Incorporated in 1903, the WSE is Canada's only agricultural futures and options exchange. The WSE conducts the world's only futures market for flaxseed, rye and canola. The WSE also trades feed grades of wheat, oats and barley.
Witching Day
A day on which two or more related classes of options and futures expire.
Withdrawal Plan
The ability to establish automatic periodic mutual fund redemptions and have proceeds mailed directly to the investor.
Working Capital
In a narrow sense, defined as the difference between a firm's current assets and its current liabilities. More broadly, working capital encompasses both a firm's current assets and liabilities, and working-capital management is concerned with the management of current assets and liabilities.
Working Capital Ratio
Current assets of a company divided by its current liabilities. This is a measure of a company's liquidity.
Wrap Account
A type of fully discretionary account in which a client has given specific written authorization to a partner, director or qualified portfolio manager of an investment dealer to select securities and execute trades for him or her. A single annual fee, based on the account's total assets, is charged instead of commissions and service charges being levied separately for each transaction. The account is then managed separately from all other wrap accounts, but is kept consistent with a model portfolio suitable to clients with similar objectives. This is also known as a wrap fee program.
Writer
An individual who sells an option.
W-Type Bottom
A double bottom where the price or indicator chart has the appearance of a W.
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