Stoploss failedI had trimmed then trimmed and was about to put in a stoploss but the bid was already there, so I was dumping in the $2.20s today.
Anyway, I sold my entire position -- all names -- and I m 100% cash. I will see how that works out, but I believe higher for longer lumber is here. I also view the short term being a volatile animal that faces dramatic downside risk given the rapid rise, plummeting futures, inflation fears, latent supply emergence, and then just the stimulus taper. Then, see the first bozo eruption with Interfor and the spec div and a BC-based rebuild. Guys, that's not the best use of capital in either case. That will hasten the demise. I see the selloff overshooting which will be a good buying chance down the road, but as futures plummet the fear is always "oh it's going back to 2019". It may, but just as an overshot temporality.
No fault if CF but LPX and WFG should not be getting hammered, and I don't like those omens. It's no risk as if you hold to long you get to be long-run investor but it'll be back (assuming there is a correction) by 2022 as the hosuing demand does not subside as interest hikes come, it just materialzies elsewhere and that process takes time (e.g more housing in the midewest vs. coastal areas; small home footprints, etc)