Today's lumber close is very important. As some of you know, I added 2 outright at 170 (a simple pullback to 170 support after a nice break out) and today it's moving higher. It briefly went to limit-up but didn't stay long. This is normal because the previous resistance was at 178 and markets always want to test how much stops they can run and how much new market buys are there.
The logical move is to pullback around 175-177ish and test today's high area again. After that, it'd be nice to see it close above 178-179, but what do I know.
Nat gas is getting killed because of oil report today. I'm -$12000 on that trade alone holding 2 contracts. I'm looking to sell 3.5 May put, but because of time decay, it's not coming.
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