To The Woodshed- WSE Pro

Slight losses in the market averages masked more serious deterioration in a number of individual stocks. While the homebuilders continue to defy gravity (no surprise there), a chain reaction of blowups in the subprime mortgage arena is starting to have an effect on mortgage bankers. A number of them are tanking, such as the widely discussed NFI (see Russ Winter’s blog), NDE, and even big caps like WM. Our bellwether, CFC is chilling rapidly, having broken the trendline I discussed in a recent podcast, and Fannie is even leaking a little. A number of tech leaders like INTC, CSCO, and now AAPL, are being taken to the woodshed.Click here to download complete report in pdf format (Professional Edition Subscribers).

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Lee Adler

I’ve been publishing The Wall Street Examiner and its predecessor since October 2000. I also publish LiquidityTrader.com, and was lead analyst for Sure Money Investor, of blessed memory. I developed David Stockman's Contra Corner for Mr. Stockman. I’ve had a wide variety of finance related jobs since 1972, including a stint on Wall Street in both sales, analytical, and trading capacities. Prior to starting the Wall Street Examiner I was a commercial real estate appraiser in Florida for 15 years. I was considered an expert in the analysis of failed properties that ended up in the hands of bank REO divisions, the FDIC, and the RTC. Remember those guys? 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. I'm not some Ivory Tower academic, Wall Street guy. My perspective comes from having my boots on the ground and in the trenches, as a real estate broker, mortgage broker, trader, account rep, and analyst. I've watched most of the games these Wall Street wiseguys play from right up close. I know the drill from my 55 years of paying attention. And I'm happy to share that experience with you, right here. 

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