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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford


Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
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The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj

Sunday, 11 March 2012

Lumber

Broke through resistance on the 4th attempt,as per Gann's rule.Old resistance should now become support


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5 comments:

  1. Zim11 March 2012 at 06:43

    Great charts this weekend CR!

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  2. Chartrambler11 March 2012 at 13:08

    Thanks Zim.Last week was pretty weird in the markets.Pretty well everyone seems to be expecting a breakout now.Could be interesting next week !

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    Replies
    1. Zim12 March 2012 at 05:28

      Yes, much bullishness.

      This is short term stuff, but cautioned me against being long over the weekend:
      http://rationalinsolvency.blogspot.com/2012/03/9-mar-spx.html#comment-461596468

      Delete
  3. Anonymous11 March 2012 at 16:53

    HELLO C R ;

    I AGREE WITH OTHERS , THAT YOUR CHARTS ARE WELL DEFINED AND YOUR COMMENTS ARE TO THE POINT .

    EVEN IF I HAVE DO NOT AN INVESTMENT INTEREST IN WHAT MAY BE PRODUCED , I STILL FIND IT VERY INFORMATIVE AND USEFUL IN FILLING IN THE BACK GROUND OVER ALL . THE LUMBER CHART IS A CASE IN POINT .

    I DO NOT INVEST IN LUMBER , HOWEVER I WATCH IT FROM DAY TO DAY AS THE PRICES ARE USEFUL IN SHOWING WITHER THERE IS DEMAND FOR LUMBER, WHEN THERE IS AS IT APPEARS THAT WAY TODAY. IS SHOWS THAT BUILDERS ARE USING IT TO BUILD AND DEVELOP . ONE ALSO HAS TO BE AWARE THAT THE BUILDERS , CAN OVER GUESS WHAT THEY BELIEVE THE DEMAND IS , THEN THEY ARE LEFT HOLDING WHAT THEY CAN NOT SELL .

    OTHER ECONOMIC INFORMATION HAS TO BE USED TO FILL IN THE BIG PICTURE , YOUR WEB SITE HELP DOES THAT .

    I HOPE ALL HAVE A WONDERFUL WEEK, D-KNOX.

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  4. Chartrambler12 March 2012 at 00:27

    Thanks very much D Knox and I am glad you find the blog useful. I had not looked at lumber in a while and was surprised how constructive the chart looked.I have traded it in the ast,it trends well but is somewhat illiquid (can get locked in limit moves !) I hope you are well,have a great week.

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