A flip generally refers to a dramatic directional change in the positioning of investments. : A flip generally refers to a dramatic directional change in the positioning of investments. In technical trading it is commonly known as a shift from having more long positions to having more short positions, or vice versa. Broadly, it can also refer to a real estate investing strategy or an initial public offering (IPO) investment strategy in which the investor owns assets for a short time and then sells them for a profit.