Due to @Alex K's nice trick, we need to equivalently prove whether a polynomial of $x$ and $y$ exists to fulfill the property.
The solution to this question is correct (and I upvoted after reading). I guess it can be stated more rigorously, which I present here.
Let us assume such a polynomial exists of the form of $p(x,y)=\sum_{m=0}^\infty\sum_{n=0}^\infty a_{m,n}x^my^n$. Since $p(x,y)$ should be positive for $x>0,y>0$ and negative for $x>0,y<0$, we conclude due to the continuity of polynomials that $p(x,0)=0$ for $x>0$. Similarly, $p(0,y)=0$ for $y>0$. Since $p(x,0)=a_{0,0}+a_{1,0}x$ and $p(0,y)=a_{0,0}+a_{0,1}y$, these implications hold iff $a_{0,0}=a_{1,0}=a_{0,1}$. Consequently, this means that $p(x,y)=\sum_{m=1}^\infty\sum_{n=1}^\infty a_{m,n}x^my^n=xyQ(x,y)$, where $Q(x,y)$ is another polynomial.
Now, define
$$
{
M=\max\{m:p(x,y)=x^mQ(x,y)\ \ ,\ \ \text{$Q(x,y)$ is a polynomial.}\}\\
N=\max\{n:p(x,y)=x^nR(x,y)\ \ ,\ \ \text{$R(x,y)$ is a polynomial.}\}.
}
$$
Four cases are possible:
- $M$ and $N$ are odd.
- $M$ and $N$ are even.
- $M$ is odd and $N$ is even.
- $M$ is even and $N$ is odd.
We finish the proof by proving only the first case. The others follow similarly.
Assuming that $p(x,y)=x^My^NQ(x,y)$ for some odd positive integers $M$ and $N$, the expected property for $p(x,y)$ implies that $Q(x,y)$ must be negative only in the third quadrant, i.e. where $x<0$ and $y<0$. Therefore, a similar statement for $p(x,y)$, can be expolited for $Q(x,y)$ to prove that there exists an $R(x,y)$ such that $Q(x,y)=xyR(x,y)$. This conflicts with the definition of $M$ and $N$, as it implies that $M$ and $N$ were not the maximum powers of $x$ and $y$, resp. The other cases can be proved likewise and the proof is complete $\blacksquare$