Lumber

[bpcw]

Has anyone looked into lumber, the spot price has come down from around 1500 to 375, possibly bottoming here?

[Budge]

Has anyone looked into lumber, the spot price has come down from around 1500 to 375, possibly bottoming here?

Had a quick look CME futures - Jan 2023 contract. Looks to be headed lower.

[Yodean]

Has anyone looked into lumber, the spot price has come down from around 1500 to 375, possibly bottoming here?

I don't trade futures, but from a COT perspective, lumber looks very, very good (bullish) ... huge asymmetry in terms of risk-reward, favouring upside. No idea when, of course ... technically, looks to be scooping out some type of bottom.

[SOL]

Futures is dicey, but the ETF WOOD does not look to shabby. However, I would nibble at this stage as opposed to bitting.

I prefer silver



It will probably run into some resistance at this level, then build up a force to run higher. Palladium also looks decent from a long term perspective.

[chippermon]

Futures is dicey, but the ETF WOOD does not look to shabby. However, I would nibble at this stage as opposed to bitting.

I prefer silver



It will probably run into some resistance at this level, then build up a force to run higher. Palladium also looks decent from a long term perspective.

Looking at the 60 minute chart of LBS1 you might get 392.60 out of it. If it breaks 400 I see 420. Long term, medium term I see lower. 300. No demand

[Yodean]

For the etf WOOD I've got the 69.70 level as a potential 1st lot entry point. Possible gap fill on dailies.

[bpcw]

Thanks guys, wouldn't be trading futures but would either purchase wood or trade the spot price under a spread betting account.

Don't get the no demand argument, at some point China will fully open up and the housing market will turnaround, markets are forward looking.

[bpcw]

Futures is dicey, but the ETF WOOD does not look to shabby. However, I would nibble at this stage as opposed to bitting.

I prefer silver



It will probably run into some resistance at this level, then build up a force to run higher. Palladium also looks decent from a long term perspective.

Thanks Sol, I have some Palladium, talk about volatile but think it's forming a messy bottom which we know you like!

Sold silver at a profit and waiting for a pullback, have some physical for the long term.

[SOL]

Thanks Sol, I have some Palladium, talk about volatile but think it's forming a messy bottom which we know you like!

Well, if its round and symmetrical I can't complain. Those bottoms usually give you your bang for your buck

[Yodean]

Thanks Sol, I have some Palladium, talk about volatile but think it's forming a messy bottom which we know you like!

Well, if its round and symmetrical I can't complain. Those bottoms usually give you your bang for your buck

Both of you r pervs ...

[SOL]

Both of you r pervs ...

Well you know these things happen when you start talking about wood

https://www.youtube.com/watch?v=_9pPLLNldg8

[SOL]

@bpcw. Looking closer at the ETF WOOD, it does not look too shabby. Ideally, it spikes down once more and then it would become a good buy.



I would buy if it dropped to the 57 to 60 range. The markets are extremely oversold right now so its buyer's market which means we can afford to be picky as hell.

[bpcw]

@bpcw. Looking closer at the ETF WOOD, it does not look too shabby. Ideally, it spikes down once more and then it would become a good buy.



I would buy if it dropped to the 57 to 60 range. The markets are extremely oversold right now so its buyer's market which means we can afford to be picky as hell.

Thanks Sol, will keep an eye out and may dip my toes!

[bpcw]

Thanks Sol, I have some Palladium, talk about volatile but think it's forming a messy bottom which we know you like!

Well, if its round and symmetrical I can't complain. Those bottoms usually give you your bang for your buck

Both of you r pervs ...

Been called worse!