When stocks are up 20% from a low, we're in a bull market. And when stocks are down 20% from a high, we're in a bear market.

But where do these names come from?

According to Scottrade, these characterizations were designated because of the respective animals' methods of attack.

When you get gored by a bull, your usually getting launched into the air. And when a bear attacks you, it's coming down on you from its standing position.