Until further notice, this is a cyclical (not secular) bull market.  (Big Picture also The Pragmatic Capitalist)

What the Dow’s 10% move above its 200 day moving average means for the next year.  (Trader’s Narrative)

The Nasdaq has been on a tear relative to the Dow.  (Crossing Wall Street)

The best performing stocks in the S&P 500 year-to-date.  (Bespoke)

Sector SPDR performance year-to-date.  (Afraid to Trade)

Dividends are down big, especially amongst financials.  (Floyd Norris, BusinessWeek)

The VIX is actually trading at a premium to realized volatility.  (Daily Options Report)

Why do out-month VIX futures remain high?  (Condor Options)

The leveraged ETF fallout continues.  (ETF Database)

The latest goings on at ETF sponsor WisdomTree Investments.  (IndexUniverse)

In defense of John Hussman’s market timing.  (401kAlpha)

“Some investors are concerned that the new crop of mortgage REITs are trying to capitalize on an investment opportunity that may last only a few years, with a vehicle that would provide an infinite fee stream to the sponsor.”  (WSJ)

Is HFT killing Jim Simons’ profits?  (Clusterstock)

Don’t like HFT?  Tax it or abolish continuous trading.  (Ezra Klein, Felix Salmon)

Asymmetric information is nothing new. Even its critics concede that most HFT is perfectly legal. But some of the advantages that accrue to high-frequency traders look unfair.”  (Economist)

“In short, Washington is in the midst of a sweeping power grab over the compensation practices of corporate America..”  (Time)

Congratulations taxpayers, you banker bonuses last year.  (Atlantic Business)

A fourth consecutive quarterly decline for GDP.  (Calculated Risk also EconomPic Data, Alea Blog, Atlantic Business, Curious Capitalist)

“How does the Taylor rule work once you hit the point at which the Taylor rule can no longer be applied?”  (macroblog)

“Until economic growth is sufficient to propel wages upward, any residual price pressures are likely to be snuffed out by deteriorating real wage growth.”  (Tim Duy’s Fed Watch also Economist’s View)

“In short, it wasn’t the complexity of MBSs or CDOs that led to their meltdown. It was the fact that demand for safety of senior tranches was so strong—and historical data from before 2002 misleading—that the pools were widened beyond warrant.”  (Clusterstock)

Cash for clunkers was a bit more popular than expected.  (NYTimes also Fund My Mutual Fund)

How much is killing a public option worth to the big health insurers?  (Baseline Scenario)

The sorry state of the shipping industry.  (Economist)

Starbucks (SBUX) aside the coffee business is hot.  (BusinessWeek)

Microsoft (MSFT) has lost the high end of the operating systems market to Apple (AAPL).  (Daring Fireball)

CNBC viewership down 28%.  (Zero Hedge)

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