Let's break it down - "Long" is an investment term used to
describe a stock which an investor expects to rise in price in order to make a
profit (i.e., Buy low - Sell high). "Position" is an investment term
used to signify an active stock in an investor's portfolio (i.e., the
value of the investor's investment in the stock is subject to change in value
as the market price dictates). Therefore, a "Long Position" is a
stock that an investor has purchased, but not yet sold.
If you Buy 200 shares of MSFT and you have not sold them yet, it can be
said that you have a Long Position in MSFT. Once you Sell those MSFT shares,
you will no longer have a Long Position in MSFT. However, you may refer to
your Former Long Position in MSFT (if you wish to discuss the Position after
the fact).
