thoughts on lumber futures
Anyway, in the past couple of days, lumber prices have taken another dive. They're now retesting a key technical level ($260-ish) that has held several times in the past couple of years. If it gives way, it COULD signal a new leg down in the market. Only time will tell.
It's worth noting that we'll get August housing starts figures tomorrow. A strong number could turn the price tide in lumber, while a weak number could have the opposite effect.