OVERSOLD is the state of the market when much more selling occurs than is warranted by market conditions. If investors and speculators sell large amounts of securities, including short sales, over a period of time, at some point the market will become oversold and buying is likely to increase. Depending upon the degree of buying, prices will either stop falling or will rise. A rise in prices under these conditions is known as a technical rally.
SHORT TERM ASSET is an asset expected to be converted into cash within the normal operating cycle (usually one year), e.g. accounts receivable and inventory.
REVENUE ANTICIPATION NOTE (RAN) is a note sold by municipalities as a temporary financing pending the arrival of certain revenues, which are then used to payoff the note. Usually the income on these notes is exempt from federal income taxes.
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