Lumber coming out of the darkness

This is a discussion on Lumber coming out of the darkness within the Commodities & Money Markets forums, part of the Markets category; Lumber looks a painful market, all technical indicators are a sell but I went long on Thursday and the market ...

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Old Feb 3, 2009, 7:35am   #1
Joined May 2005
Lumber coming out of the darkness

Lumber looks a painful market, all technical indicators are a sell but I went long on Thursday and the market has since gone limit up 2 days in a row. Fundementals are of course against this market if you look at the residential building fall off. However, as sawmills close down and infrastructure spending gears up, lumber may have found a bottom. Of course it could also be a squeeze on the shorts.

Max
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Old Feb 4, 2009, 8:07pm   #2
Joined Sep 2007
Yeah, but we can't trade it at Interactivebrokers.

Now that it is on globex we can't trade it.

Damn!
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Old Feb 6, 2009, 12:25am   #3
Joined May 2005
maxwellreid started this thread I use IB, as well as CFD providers. ie CMC when the contract is too large (for me) or not available. Lumber has since had another limit up day. Eased off today. Lumber is often seen as a early indicator for the property market. If so, then, maybe this is the start of a turn around, although it would have to be a slow painful one.

Max
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Old Feb 9, 2009, 6:46pm   #4
Joined Sep 2007
Quote:
Originally Posted by maxwellreid View Post
I use IB, as well as CFD providers. ie CMC when the contract is too large (for me) or not available. Lumber has since had another limit up day. Eased off today. Lumber is often seen as a early indicator for the property market. If so, then, maybe this is the start of a turn around, although it would have to be a slow painful one.

Max

How did you trade the lumber, with IB?

I can't trade it with IB.

Vote my poll http://www.interactivebrokers.com/en...l.php?sid=4279

to have the lumber in place with IB.

Spreads on Globex are very good i think.

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Old Feb 9, 2009, 11:33pm   #5
Joined May 2005
maxwellreid started this thread I trade lumber thru CMC, because it is not available thru IB. In my general trading I use both IB and CMC. I was not clear in my post.

Max
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Old Feb 9, 2009, 11:51pm   #6
Joined Sep 2007
I don't find lumber in their product list.
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Old Feb 10, 2009, 12:33am   #7
Joined May 2005
maxwellreid started this thread CMC Markets Australia - Commodity CFDs - Australia's No.1 CFD provider

I trade lumber thru CMC in Australia. I have to admit I struggle with how far the UK is behind Oz in what and how they do things. Placing limit orders on stocks in the UK are like watching paint dry

Max
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Old Feb 11, 2009, 2:13am   #8
Joined May 2005
maxwellreid started this thread Lumber was probably the commodity that turned down first in this bear market - out of the commodities. If you follow FIFO then a bottom for lumber (if it has been reached) may be an important indicator for a general market turn around.

Max
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