Pronunciation: (spek'yu-lāt"), [key]
—v.i., -lat•ed, -lat•ing.
1. to engage in thought or reflection; meditate (often fol. by on, upon, or a clause).
2. to indulge in conjectural thought.
3. to engage in any business transaction involving considerable risk or the chance of large gains, esp. to buy and sell commodities, stocks, etc., in the expectation of a quick or very large profit.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.