Long, a.(Finance & Com.) Having a supply of stocks or goods; prepared for, or depending for a profit upon, advance in prices; as, long of cotton. Hence, the phrases: to be, or go, long of the market, to be on the long side of the market, to hold products or securities for a rise in price, esp. when bought on a margin.
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Webster's Dictionary 1913
Webster's Revised Unabridged Dictionary, C. & G. Merriam Co., 1913.