Adam,
99.9% of the time I am a long-term investor,however, when I can walk away with $6000 in 2 weeks WITH NONE OF MY OWN MONEY I'll take the money and reinvest in other places. If you haven't been priviledged to my past comments on Ingram you may have missed the fact that I have several friends that I have known for over 20 year that work at Ingram. Additionally, I have been waiting for this IPO for probable 2 years.
As for Ingram, the stock hasn't moved in a week while the rest of the market is going up, up and away. Additionally, volume has slacked off considerable since the opening (I expected this). Give the market one really bad day and Ingram will move down in my opinion. I'll take $7 per share profit. Additionally, Ingram was just one small part of my portfolio. I'm not married to any stock. Keep in mind that historically most IPO's revisit their offering price. Look at Tech Data's 52 week low. My recollection is that it has been down to $11 or so.
There is a old saying "sell on strength; buy on fear." The market is operating under a herd mentality. Hopefully when Alex Brown and Morgan Stanley make a recommendation the stock will bounce up a few points. That is just speculation on my part, however, I'm consolidating my equity position and I might go back in. FYI, Morgan Stanley rated the stock as an "outperform" yesterday or today and the stock dropped 1/8. Maybe this is where the stock is going to trade. for a while? I'll take my $6000.
Chris
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