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Strategies & Market Trends : TRIPLE TRADES
OPEN 6.550-9.4%3:59 PM EST
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To: yard_man who wrote (1065)7/2/2021 10:52:36 AM
From: Bull RidaH1 Recommendation

Recommended By
yard_man

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LUMBER - The supply chain issues have apparently been solved, and demand has temporarily leveled off as building commitments for the summer have been met. As existing home prices continue to melt up, a strong wave of 4th quarter building starts should result in a dead cat bounce in LUMBER prices. You have surmised correctly that the price collapse crippled the hope of new highs, as successful quad fork moves never see this sort of intrusion back into the 1st fork after hitting the top of the 3rd. I'll look to exit near the top of the 2nd fork in the 1225 area, and will not forget this lesson to incorporate stops as each fork's top rung is met... especially in commodities.

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