IP IMHO a short

Discussion in 'Stocks' started by heilbronner1, Dec 21, 2009.

  1. IP has had a good run - almost too good for a stock like IP.

    That's why I'm short IP around $ 27. Can't tell you if this is the high or not, but I'm in now.

    The time frame for this trade is about 1-3 months. Let's see what happens.
  2. Are you scaling in or all in at this point? It appears that there is some significant resistance that IP hasn't hit yet (say $28-$30 level.) IP managed to break out from major resistance point of around $25.50, so that might prove to be a barrier to the downside, at least in the short term.
    Also, IP hasn't been a rocket up...more of a slow and steady climber, so this is a vehicle that people can climb on and off easily which means there's no reason to stampede if it drops by a couple of percent. I'm not saying it can't drop, but you might want to stretch your time horizon out a bit.
    Anyway, just playing devil's advocate here with some food for thought.

  3. I will ship in some profits around $ 23.90 - 24.12 if we reach those levels today.

    Best wishes. :p