Laggard
Industry, company, or stock that is under performing the general market.
Large-Cap Stock
Shares issued by large companies, typically those with market capitalizations of $10 billion or more.
Leader
Industry, company, or stock that is outperforming the general market.
Limit Order
An order to buy or sell a security at a specific price. Limit orders may not get filled immediately and/or entirely.
Liquidity
Ease at which a stock may be bought or sold. Highly liquid stocks are characterized by large volume of trading and interested buyers and sellers.
Long-Term Capital Gains
Net gains on assets sold 12 months or more after purchase; taxed at a maximum rate of 15% for most taxpayers and 20% for higher-income taxpayers (generally those whose income exceeds $400,000). In addition, a 3.8% Medicare surtax is added for most taxpayers earning more than $250,000 if married or $200,000 if single.