Replies to post #123724 on Medical Marijuana Inc (MJNA)

[Det_Robert_Thorne]

Wow. Just Wow.

Grasso is/was long MJNA. You can be long a stock and hold it for a long time as a long-term investment, or you can go long a stock at 10AM, sell it by 10:12AM, go long again at 10:25AM and sell it the next day.

Any time you buy a stock with the intention of selling it for a higher price you are going long. It's the holding period that determines if it's short-term or long-term.

Any time you borrow a stock and sell it with the intention of buying it back at a lower price, you are going short. You maintain a short position for a long time or a short time.

If the CNBC website said that Grasso had established a long-term position in MJNA you would be correct, but the CNBC site doesn't say that. It simply says that he is long.

In other words, Grasso bought MJNA with the intention of selling it some time in the future for a higher price, so he is by definition, Long MJNA.

Unfortunately, he's also down 39% on his trade, so far.