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.
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.