Lumber peaked in mid-April, then fell over 40% in 60 days. Some say that was due to the ending of the first time buyers home program. No matter what the reason, on a price basis, lumber is breaking from a bullish ascending triangle.
For those open to trading futures on Lumber…Nice breakout is at hand. Would use the 220 level as a sell stop. After such a large decline, if Lumber would just reach its 50% Fibonacci retracment level, a decent gain will still take place.
Agree per tracking CUT.
WOOD is another ETF that tracks lumber. I think it mirrors CUT though
CUT attempts to duplicate the “global timber index of stocks,” which is different than Lumber itself.
Appreciate the idea! Was sure worth looking into.
cant we use Claymore/Clear Global Timber Index ETF (CUT) to play lumber?
Not an ETF that I am aware of…that is why I mentioned futures.
Is there an ETF for lumber?
Anyone have any suggested symbols capitalize on this?