Bear is a financial term for a person who, anticipating lower prices, sells for future delivery a commodity, currency or security which he does not own with the expectation he will be able to buy it at a lower price before he is required to make delivery. A bear is said to sell short. The operations or transactions of bears have the effect on market prices of an increased supply and thus tend to reduce prices.
- Percy L. Greaves, Jr. "Mises Made Easier ", 1974. Referenced 2014-06-24.
- Market trend on Wikipedia