To the left, is a chart of the local LA housing futures contract. If you look to the bottom of it, you can see the volume is very low. In general, I do not watch volume, as it is not of any value in trading. However, it is important to trade in markets that have sufficient volume, to get good executions on your orders.
The reason that this is important is as follows. When orders are placed, there has to be someone who essentially, has the opposite view of where price is going. This is necessary, because someone has to buy when you sell, and sell when you buy. Otherwise, the orders will just sit in the pits, with no executions. Most futures markets, have more than enough participation, to not worry about this.
This market at the current time, does not. Notice, the jumps from dot to dot on the initial trading days. This is the only price, that any trades were executed. In a situation like this, you can actually be correct about the direction of the market, yet not be able to get out at the right time. The success of this market is hinged upon larger participation. At some point, hopefully, the homebuilders will enter this market as a hedge, and create alot of liquidity.
We will know if this is happening, by a volume surge. Until then, stay clear of this.