Western Forest Products Inc.

WEF-T

Forestry stocks have had a rough ride in the last 6 months. They turned first before the market. They have now gotten quite cheap. It is quiet cheap here and the balance sheet is fine. Their yield is good and quite well supported. It is a small long for him.

NTR or WEF? He would prefer NTR-T as he believes it will eventually be back to making money. He thinks deforestation is one of the biggest contributors to greenhouse gas emissions. There is only so much arable land and thinks NTR-T will benefit the most.

It's not time to give up. Lumber prices have been falling just like the stock. If you take a look at housing construction, the chart looks just like this. This is the seasonal period when all these sectors tend to pick up. This is a good opportunity.

He would be cautious on any of these forest plays. The easy money was made in the first half of the year. Many of these positions are just unwinding very fast. It could be a falling knife.

Range-bound and had a nice run. Looks like it's falling back to $2.