Turn of the market. Wall Street term for the point at which the stock market changes its course.
On the London Stock Exchange the jobber (who is practically a wholesaler) will buy at one price or
will sell at another. The price midway between that at which he will buy and that at which he will sell
— and he will do either — is called the middle price ; the jobber expects to undo or cover his
bargain by a fresh bargain with another jobber at the middle price ; the turn of the market is the
difference between the middle price and the price at which the jobber bought or sold.
On the London Stock Exchange the jobber (who is practically a wholesaler) will buy at one price or
will sell at another. The price midway between that at which he will buy and that at which he will sell
— and he will do either — is called the middle price ; the jobber expects to undo or cover his
bargain by a fresh bargain with another jobber at the middle price ; the turn of the market is the
difference between the middle price and the price at which the jobber bought or sold.
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