So you will have to forgive my ignorance on these things.
There is a ticker at the top of the MTGOX page that reads
Last:xxx High:xxx Low:xxx volume:xxx weighted average:xxx
so i know what Last is.. i know what volume is, Weighted average i can assume is a simple math calculation of how many sold at what price, and an average of some sort.
but low.. all day today its been at 5.30 while high and last have fluctuated quite a bit.
what exactly does low mean? is it the lowest buy offer out there? lowest coin price sold in x period of time? and so on.