Lee Adler - The Wall Street Examiner

Author: 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.

Gold Back in the Woods

Lee Adler Gold and Mining Stocks Trader November 10, 2020

There are signs that the 9-12 month cycle down phase could be much worse than I originally had hoped. This includes a new downside cycle projection that won’t make you happy, unless you want to accumulate at lower prices.

The Charts Know All, See All – Why Yesterday Was Foreordained

Lee Adler Lee's Free Thinking November 10, 2020

And other Magic 8-Ball lies.

I had had BA short on my Technical Trader chart pick list for weeks. Over the weekend, based on the chart, I decided that it was time to cover it and so indicated for Monday. By the time Monday’s open came around it was too late. What had been a modest profit opened as a painful loss. Yes, I had had buy signals. No, there was no sign that the stock would open 15 points above the established trading range. Orderly, liquid markets don’t work that way.

Real Time Tax Collection Data Supports Jobs Report

Lee Adler Liquidity Trader - US Government Revenues November 10, 2020

Tax collections improved in October, but are still well below pre-pandemic levels. The US may look like it’s recovering, but it’s still in the hole it dug when Covid19 first hit. That means that Fed policy isn’t likely to change any time soon.

Now THAT’s a Head and Shoulders 11/10/20

Lee Adler Lee's Free Thinking November 10, 2020

But it needs to break down below 3512 before it means anything. Then the conventional measured move target would be 3370-75.

Here’s To All Pundits Making Up Reasons 11/9/20

Lee Adler Lee's Free Thinking November 9, 2020

Politics doesn’t matter. There are two rules.

Stock Market Biden Time for the Bulls

Lee Adler Technical Trader November 8, 2020

Short term cycles turned up on schedule, triggering the overdue upturn in the 6 month cycle. The 13 week cycle up phase got its expected second wind. All cycles from 4 weeks to 6 months are now in gear to the upside. The 4 week cycle currently projects to 3560. The 13 week cycle points higher–a lot higher.

But First, A Pullback- 11/6/20

Lee Adler Lee's Free Thinking November 6, 2020

At 6:30 AM in New York, the ES fucutures have spent the overnight hours pulling back, reaching key support at 3460. That also happens to be the 5 day cycle downside projection.

What happens next depends on whether this support level and target ho…