Malvin Spooner Canfor Corp CFP-T BUY Jan 31, 2002

The market doesn't believe their balance sheet; shares keep falling. He forecasts 60% downside. Massive losses for the company.

Very cyclical. Higher rates have meant lower housing starts. She doesn't play in the pure-play commodity space too much, more trading vehicles than long-term holds.

Shows the struggles in forestry and wood products. Now in the part of the cycle of reducing capacity. US market is what will drive the upside, but rebound could be 3 months or 2 years away. You could start looking at it.

It looks like it is at a bottom which it has hit three times and it is close to its $14 support level. He doesn't see a reversal from its long downward drop. Be careful - sell if it goes below $13.75.

TOL is one of the biggest homebuilders in the US, and a leading indicator. When it starts to go, as it has in the last few days, it's usually good for the lumber stocks.

Homebuilding stocks in the US have been going straight up, but Canadian forestry stocks have been going the other way. WFG has done the best in holding its share price.

IFP and CFP have really started to bottom on the charts. He hasn't done enough digging to know who has a better earnings profile. But looking at the charts, one of these might be a good bet to catch up to WFG and to the US homebuilders. Lower interest rates will have an impact as well.