Lee Adler

I’ve been publishing The Wall Street Examiner and its predecessor since October 2000. I also provide analysis and charts for David Stockman's Contra Corner which I developed for Mr. Stockman. I’ve had a wide variety of finance related jobs in the past 44 years, including a stint on Wall Street in both analytical and sales capacities. Prior to starting the Wall Street Examiner I worked as a commercial real estate appraiser in Florida for 15 years. I also worked in the residential mortgage and real estate businesses in parts of the 1970s and 80s. I have been charting stocks and markets and doing analytical work since I was a teenager. My perspective is not of the Ivory Tower. It is from having my boots on the ground and in the trenches of the industries that I analyze and write about today.

Yield Update 10/31/06

Latest cycle conditions and projections for the 10 Year Treasury Yield. Click here to download complete report in pdf format (Professional Edition Subscribers).

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Fed and FCBs Step Up

The Fed added $10.43 billion to the liquidity pool on Wednesday with a $1.43 billion permanent purchase (settling tomorrow) and $9 billion in overnight repos, against no expirations. The 5 day net rose to an add of $10.18 billion. That looks huge …

Move into the Real World

Countering, the Alice in Wonderland view of “things”, were the comments by Autonation (the largest auto dealer in the US) in it’s conference call explaining why they were slashing orders to the Big Three by 30%. AN advised the auto makers to “move into the real world”, pointing out that Detroit estimates inventories on retail […]

The Latest and The Greatest

We have arrived safely at our newly rented Florida home. The movers have come and gone; I am surrounded by boxes, some empty, some partially empty, and a few still full, but at least I’m here, and anxious to get you up to speed with the latest and…

Which in Turn Crazy Quilt

Some interesting takeaway comments from this Bloomberg article:
-Available money is encouraging “barely profitable and highly risky’’ investments, French Finance Thierryr Thierry Breton said last month.
-Interest rates in the main economies have still not been raised enough,’’ Congdonm Congdon, visiting fellow at the London School of Economics and one of the “wise men’’ who advised the […]

Conference Calls: Like Catching a Snake in the Grass

Financial entities now seem hard at work inflating earnings via some largely undisclosed version of (problem?) securities sales, and ratcheting up “fees” to customers. Of course my suspicion is that these transactions are conducted with Enron style off-balance sheet entities, or quasi-related hedge fund operators. But, we aren’t going to get even close to […]

Reality Food for Thought

“Carl Jung, remarked that “people cannot stand too much reality.” . How true, but we’ve now reached a new threshold in America, people can’t stand ANY reality.
-Wal Mart today said sales at established U.S. stores rose an estimated 0.5%, far off the 2-to-4% gain the company originally forecast for October. Brazil Americans […]

Stay Calm, All is Well?

Stay calm, all is well. – Kevin Bacon, Animal House
The market acts not just calm/well, but absolutely comatose. To measure just how much so, I’m running two charts courtesy of Contrary Investor. If you are a CI sub, make sure you read their Thursday commentary. The charts speak for themselves. VIX, or […]