4. 形容词当名词用

The series of “lower highs” and “lower lows” is lower than the former ones, which is a tell tale sign of a stock in a down trend. In other words, each time the stock edged lower,it went lower than its previous relative low price. The sequence of lower lows and lower highs is broken, which is the indication that the down trend is at least pausing and possibly ending. At this time we would likely stop actively selling the stock. (相继一系列下降的价格波峰和波谷都对应地低于前一个波峰和波谷，那么市场就处于下降趋势中。波动下跌的趋势被打破、逆转，这表示至少下降趋势就要停止、可能就要结束。这时我们就不会卖掉股票。)

Convertibles earn interest even when the stock is trading down or sideways, but when the stock price rises, the value of the convertible increases.(当股市走低或者横盘整理时，可转换债券可赢利，可转换债券的价值增值。)

这里的convertible 等于convertible bonds。

With an increase of US $ 2 billion in trading volume over the previous week, the Dow Jones Industrial Average closed 45 points up at 14,698.6 points, hitting a new high for two years.(随着交易量比前周放大20亿美元，道• 琼斯工业平均指数本周上扬45点，以14698.60点抱收，创两年新高。)

5. 名词作形容词用

It is often said that earnings are the

bottom - line when it comes to valuing a company’s stock, and indeed fundamental analysis places much emphasis upon a company’s earnings.(当评估公司股票时，人们通常认为公司的收益最重要。的确，基本面分析非常重视公司的赢利能力。)

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