Two traders are drinking in the basement bar of Bobby Vans on Broad St when one says to the other “So the seller put out an offer, the first buyer put up a bid then backed away, so I came in and she hit my bid.”
To someone with knowledge of trading terminology, this would literally be translated as
“The seller had provided an offer but the first buyer reneged on their intention to buy the stock, so I came in and she sold to me.”
What it actually means is completely different based on context.
“This girl went up the bar looking for a guy to buy her a drink. The first guy bought her a drink but decided she wasn’t his type and moved on, so I came in and sealed the deal.”
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