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.

Lee's Free Thinking

Baseball Cap 7/8/20

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The famous baseball cap pattern is the inverse of the dreaded cup and handle.

The ES wuczrs (Polish) are now at the tip of the bill. The 5 day cycle projection is 3113. But the 3 day cycle is due for an upturn here. Buy the dip, sell the rip. Pick your poison.

The EZ wuczrs are now at the tip of the bill. The 5 day cycle projection is 3113. But the 3 day cycle is due for an upturn here. Buy the dip, sell the rip. Pick your …

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Liquidity Trader - Macro Liquidity- Fed and Banking

Backed By Lansky, Dealers Do Enough To Keep The Players at the Tables

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The Meyer Lansky like Fed has cut back QE, but Treasury supply has also receded. So the Fed is still funding most new issuance, either by direct purchase of Treasuries, or indirect funding via purchases of MBS. That has allowed the dealers enough flexibility to keep the players at the gaming tables. Are they being…

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Liquidity Trader - Macro Liquidity- Fed and Banking

Primary Dealers Deleverage and Grow Cautious

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As the Fed has cut back on QE, Primary Dealers have also cut back their inventories of Treasuries and the leverage that they use to finance them. That’s not bullish. Here are the details and a few charts along with a suggested strategy to play the dealers’ game, not the one they want you to play as they set up new traders for the kill.

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Technical Trader

Bulls Come Back to Work

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The long holiday weekend has ended and bulls are back at their desks.

Bullish on Biden’s growing lead in the polls, right? Because when the market was going down 2 weeks ago, the papers said that was because the market feared Biden. I guess traders switched sides, because the charts sure look bullish again all of a sudden.

Wow.

Here’s what to look for to signal that this is for real. Along with a few ideas on how to ride it.

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