RE:ncib purchases April 1 to May 13someone mentioned they don't have to file the ncib buy backs till the next month, not loike actual insiders rules. 1 insider did buy on the 14th at $2 US.
I think once the futures selling slows down and levels off you will see a lot of money coming baack to the sector. people bailed on their lumber etfs and mutal funds to temporary greener pastures, a lot has been going back to the renewable space.
the fast money, traders and speculators are out for now and off to chasing gold or bitcoin or whatever the flavor of the day is this week, obviously not lumber, lol.
no one likes watching their stock go down but imho it is definitely overdone here, I bought some traders today even though I still have a fair chunk. I suspect lumber will sell down to the 700-999 range and then reality will set in and fundamentals will take over, 1600 was way too high, even the lumber producers will say so, the market will remain tight so higher prices will be the norm for a while yet, just how high is the question, I think everyone will be happy in a 700-900 ish range after a brief glance at 1600+, the producers will be happy there and buyers will welcome some relief.
as the previous poster noted, do not underestimate the fact that wef has is having it's lumber available to harvest trimmed down by our govt. so it's been hit harder, for now at least. wef does have the leverage to move more product thru the higher north american markets, last q was around 64% I believe, so it can and will go higher.
the market looks ahead and soon sentiment will change when people realize this is merely a correction and not a collapse of the lumber market. those $4 target posters were out to lunch as I said a few times before but I do think within the next 6-9 months wef will be in that 2.75- 3 range. all jmho
cheers and good luck ferret