Lumber Contract In I-Shaped Recovery, Up 91% On Year (Chart)

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The Lumber contract is up 91% on the year, outperforming the S&P, Nasdaq and Gold. John Paulson said in a conference call today that housing prices could increase 8-10% in 2011.  Yale's Robert Shiller said there's a 50/50 chance of another housing downturn.  Who is bidding up lumber futures?

1-Year Lumber Continuous Contract (Courtesy of Stockcharts.com)

Lumber vs. SPY, GLD and QQQQ

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