A near record percentage of stocks are trading above their 200 day moving averages. (Quantifiable Edges)

Should the stock market fear September?  (dshort, Bespoke)

Four ETFs with a defensive bent.  (Morningstar)

Realized volatility has ticked up.  (Daily Options Report)

A cluster of “extreme days” does not necessarily indicate the end of a bear market.  (CXO Advisory Group)

Citigroup (C) is flirting with the critical $5 level.  (MarketBeat)

Dick Bove thinks Morgan Stanley (MS) going down the path of Lehman Bros.  (Clusterstock, FT Alphaville)

Doug Kass thinks we are not going to see a self-sustaining economic recovery.  (The Reformed Broker)

Citadel Investment Group continues to separate its business units.  (WSJ)

ETF growth is coming from more exotic products.  (ETF Database)

Swaps will not necessarily save the commodity ETFs.  (IndexUniverse earlier Abnormal Returns)

The “zombie underclass” of ETFs is growing.  Our (way) earlier warning on the risks of “orphan” ETFs.  (WSJ, Abnormal Returns)

“(T)he notion that high-frequency trading is OK because it creates more liquidity simply won’t wash.  (Matthew Goldstein also Zero Hedge)

Should we fear the fact that private equity is releveraging?  (Felix Salmon also Deal Journal, Clusterstock)

Can public REITs take share from private commercial real estate holders?  (WSJ)

Research indicates IQ is positively correlated with stock market participation.  (SSRN)

What role did smaller oil shocks play in the Great Moderation?  (Infectious Greed)

A rise in demand for temporary workers.  (The Pragmatic Capitalist)

Some skepticism that the housing market has really bottomed.  (The Money Game, Breakingviews, Calculated Risk, Free exchange, Caveman Forecaster)

Ben Bernanke’s great challenge will be unwinding the many programs designed to support the financial system.  (Dealscape, WSJ, NYMag, Agnes Crane, Big Picture, Barron’s)

On the parallels between studying earthquakes and macroeconomics.  “Prediction is important, but it’s not the only use of models.”  (Economist’s View)

Philip Tetlock, “The demand for accurate predictions is insatiable. Reliable suppliers are few and far between. And this gap between demand and supply creates opportunities for unscrupulous suppliers to fill the void by gulling desperate customers into thinking they are getting something no one else knows how to provide.”  (National Interest via Crooked Timber)

“There are many reasons to believe that a reduction in the size of the VC industry will be healthy for the industry overall and should lead to above average returns in the future.”  (Above the Crowd via A VC)

The future of Twitter, hint it’s not teenagers.  (Silicon Alley Insider, NYTimes)

Good things are happening for StockTwits.  (Howard Lindzon, Big Picture)

Talk about kicking a guy while he is down.  Brewers plan to raise beer prices.  (CNNMoney)

It seems appropriate that the Chicago Cubs will have to file Chapter 11 to facilitate a sale.  (DealBook)

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