oldarmy1 - you made a tweet recently about the lumber retraction. Do you expect that to continue downward?

Have commodities peaked (wood, metal)?

AG 2000' said:

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oldarmy1 - you made a tweet recently about the lumber retraction. Do you expect that to continue downward?

Have commodities peaked (wood, metal)?

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+1

I would be very interested in any educated thoughts on lumber prices over the next ~6 months.

Can someone explain why there is an exclamation mark next to my Sundial position that says "issuer failed to meet NASDAQ listing requirements."

Is SNDL being delisted or is that an error on Fidelity??

I believe their last day for compliance is coming up

Sigh. Getting tired of these massive swings with ROKU. Gonna sell as soon as it hits 370.

McInnis 03 said:

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$30,000 Millionaire said:

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QQQ 343C 6/18

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Death by a million chops.

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I haven't bailed yet.

E said:

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I believe their last day for compliance is coming up

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So what does this mean? They just become OTC instead of a NASDAQ stock?

I'm trying to make this an Inverse H&S on SPY 5 Min.

FJ or any of you other smart guys...is that a tricksy move on the 5Min QQQ chart?

$30,000 Millionaire said:

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AG 2000' said:

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oldarmy1 - you made a tweet recently about the lumber retraction. Do you expect that to continue downward?

Have commodities peaked (wood, metal)?

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not OA, but let me ask why you think wood was high. Is it because of inflation or because of supply chain disruptions? What happens when the supply chain corrects itself. Lumber also hit +3 ATR.

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Stinson @lumbertrading is a good follow on lumber Twitter. Also he had a good podcast episode on the Odd Lots podcast.

Ccutamu said:

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FJ or any of you other smart guys...is that a tricksy move on the 5Min QQQ chart?

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I am for sure not in the smart group. Back of the bus kinda guy.

Easier to see on a 1 Min or 2 Min but wasn't met with huge volume. It did accelerate down then reverse though so maybe a small one?

$30,000 Millionaire said:

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AG 2000' said:

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oldarmy1 - you made a tweet recently about the lumber retraction. Do you expect that to continue downward?

Have commodities peaked (wood, metal)?

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not OA, but let me ask why you think wood was high. Is it because of inflation or because of supply chain disruptions? What happens when the supply chain corrects itself. Lumber also hit +3 ATR.

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not AG 2000, but I can tell you this much - if the article linked below represents a larger segment than those surveyed - there's a group that will want a bailout from a home loan they no longer like, or a home location that fell out of the trendy area, or costly routine expenses needed for a home that were never thought of before the purchase, and the list goes on. Housing could take a hit...fast. Or, should a home lose value, this group is going to want a refund on those skyrocketing property taxes. ... Really, same story as 2007/2009.

https://finance.yahoo.com/news/nearly-two-thirds-millennials-homebuyer-100048037.html

I am still only going to trade cash hours.

$30,000 Millionaire said:

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I am still only going to trade cash hours.

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I already get up at 3 and go to sleep about 10. They aren't leaving me much time to sleep.

CrazyRichAggie said:

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Now we will never get to sleep

*Cboe to Extend Global Trading Hours for VIX and SPX Options to Nearly 24 Hours, Beginning Nov 21, 2021

— *Walter Bloomberg (@DeItaone) June 15, 2021

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Welcome to futures

Seriously though, wonder how this affects the EOD ramps and drops......

WTI at $72

$30,000 Millionaire said:

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I am still only going to trade cash hours.

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My short time in toying with Globex is that the machines control it even more so than during the day. The trading range is super narrow and it just keeps going from 5 min bolly band to 5min bolly band for the most part.

$30,000 Millionaire said:

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AG 2000' said:

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oldarmy1 - you made a tweet recently about the lumber retraction. Do you expect that to continue downward?

Have commodities peaked (wood, metal)?

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not OA, but let me ask why you think wood was high. Is it because of inflation or because of supply chain disruptions? What happens when the supply chain corrects itself. Lumber also hit +3 ATR.

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Supply chain more than anything, it's just I don't think those issues are resolved yet.

Guess the futures are indicating that's not the case.

cptthunder said:

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CrazyRichAggie said:

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WTI at $72

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Is it time to put my order in for my Raptor or is that $75 WTI?

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Q4 2014 was the last time we saw WTI greater than $80. I think we get there by the end of 2021.

H&S on 5 Min VIX? Please let it be so,

FJ43 said:

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Farmer @ Johnsongrass, TX said:

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$30,000 Millionaire said:

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AG 2000' said:

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oldarmy1 - you made a tweet recently about the lumber retraction. Do you expect that to continue downward?

Have commodities peaked (wood, metal)?

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not OA, but let me ask why you think wood was high. Is it because of inflation or because of supply chain disruptions? What happens when the supply chain corrects itself. Lumber also hit +3 ATR.

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not AG 2000, but I can tell you this much - if the article linked below represents a larger segment than those surveyed - there's a group that will want a bailout from a home loan they no longer like, or a home location that fell out of the trendy area, or costly routine expenses needed for a home that were never thought of before the purchase, and the list goes on. Housing could take a hit...fast. Or, should a home lose value, this group is going to want a refund on those skyrocketing property taxes. ... Really, same story as 2007/2009.

https://finance.yahoo.com/news/nearly-two-thirds-millennials-homebuyer-100048037.html

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Gather cash. Buy the dip. I think you are spot on when (not if) we have a market pullback, inflation, etc. and so many are overbought in their homes with low interest rates. They will want bail outs or won't be able to afford it.

I will be a land buyer and can't wait.

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Agree. (Yeah, and I didn't even touch on the "inflation" word. If you read the Seeking Alpha Avi Gilbert article posted today - I don't think he's ever seen the economic carnage of a paltry 7% interest rate and inflation. Elliott Wave can easily become the Elliott Ripple.) My old 1979 "The Loan Calculator - Monthly Amortization Loan Schedule" book starts at an interest rate of 9% and goes to 18%. Home values today would be a disaster in a repeat environment of late 70's & early 80's. Been a long time since I heard the term "Bond Money available".

I would be a land buyer too!

On Friday, just let CVX and XOM finish at, or greater than, $110 and $65, respectively.

Looks like we are trying for yesterday's close. Not much up here other than that.

I have intraday Model T for ES_F (Sept contracts) at 4243.25, need one more small push to get there

YNWA_AG said:

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Buying $FTCH July 16 $55 calls. Looking for $3.25 Stop $0.70

— 2021 Opportunity Stocks Knock (@oldarmy1) June 15, 2021

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Look at the volume spike at 11:30 and subsequent high volume.

wtf just happened.

FJ43 said:

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Looks like we are trying for yesterday's close. Not much up here other than that.

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I agree and hope you're right. Let's see if that giant bounce off the invisible brick wall at $425 can get bought back up quickly, then hopefully we'll be in business.

We do this to ourselves. OA says jump, we ask how high...lol

J.P. 03 said:

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FJ43 said:

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Looks like we are trying for yesterday's close. Not much up here other than that.

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I agree and hope you're right. Let's see if that giant bounce off the invisible brick wall at $425 can get bought back up quickly, then hopefully we'll be in business.

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Some selling came in on the 2 min but watching 424.43.....again.. Been a good level to trade against recently. We just bounced that but who knows.