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An Old Favourite…..

Whilst one shouldnt play favourites in trading it is hard to forget the commodities you encountered first. I have fond memories of things such as frozen pork bellies (now defunct) and lumber. To me these are old time commodities that were traded long before specialised financial products appeared.

So I was a bit surprised when I saw that lumber had actually shown signs of life.

I like a good downtrend as much as the next person and the chart below shows the extent of the fall in lumber since the  GFC.

As you can see its been a sustained powerful move down – which as you would expect is symptomatic of US housing.

PS Did you know that some people do not know what the GFC was???????


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