I agree with you on CWX. However keep in mind these stocks are trading at somewhat of a premium right now. CWX is trading at double digit premiums to both its historical price to sales and price to earnings. The catalyst as you say is lumber prices.
West Fraser is somewhat cheaper, however past performance hasn't lived up to CWX. Something members don't see on the back end of our screener, and one that is effected CWX's overall grade, is historical growth. We pay attention to consecutive annual increases by companies on their top and bottom lines. Although Canwel has grown its revenue for 5+ consecutive years, it saw earnings shrink, resulting in a poor grade by our screener in terms of consistent earnings growth.
Canwel is projected to continue to grow revenue at a double digit clip over the next two years, and if you're looking for a cyclical lumber play right now, I agree with you that they're probably best in class.