The number of stocks hitting new highs has dropped off.  (Trader’s Narrative)

A measure of corporate profitability points to a somewhat overvalued market.  (The Pragmatic Capitalist)

Does a strong first quarter mean anything for the rest of the year?  Not really.  (Marketwatch)

The 10-year swap spread turned negative for the first time.  (FT Alphaville, Alea)

There is always a bear market somewhere.  This week…sugar.  (WSJ)

The VIX is getting crushed relative to the VXV.  (Daily Options Report)

Traders need to listen what the market is trying to say.  (TraderFeed)

When it comes to trading, bull markets are the worst teachers.  (Trade to Learn)

10 reasons why this isn’t a bull market from Todd Harrison.  (Marketwatch)

A good place to start on your asset allocation quest.  (IndexUniverse)

When is diversification important?  (Humble Student earlier Abnormal Returns)

On the power of portfolio re-balancing.  (Morningstar)

What can we learn from Michael Burry’s online writings.  (Street Capitalist)

Why isn’t value investing more popular?  (Morningstar)

What is Vanguard doing in the hedge fund business?  (Institutional Investor)

What credit standards say about stock market performance.  (CXO Advisory Group)

Tracking successful hedge funds to find their small biotech picks.  (Financial Adviser)

Why the satellite imaging business is so intriguing.  (Crossing Wall Street)

Bill Gross on how to pick government bonds in this treacherous environment.  (MarketBeat)

How relative strength would have kept you out of dying businesses like Blockbuster Entertainment (BBI).  (Systematic Relative Strength)

Jon Corzine returns to Wall Street to run MF Global (MF).  Conflicts anyone?  (Deal Journal also footnoted)

Starbucks (SBUX) joins the list of dividend payers.  (Crossing Wall Street)

New home sales continue to disappoint.  (Calculated Risk)

Has home affordability peaked?  (Big Picture)

How far will the Administration go in trying to replace Fannie and Freddie?  (NYTimes also Huffington Post)

Demand for inflation-protected bonds has surged as investors lose faith in government. (The Money Game, Risk)

There are plenty of looming problems.  Hyperinflation isn’t one of them.  (Felix Salmon)

An export boom may have very little effect on hiring.  (Washington Post)

Portugal catches a downgrade.  (FT Alphaville, NYTimes)

A review of the many models used to measure currency misalignments.  (Econbrowser)

Bess Levin talks with noted short-seller Jim Chanos.  (NY Observer)

Should biotech start-ups come with an expiration date?  (DealBook)

Bono becomes the worst investor in America.  (24/7 Wall St.)

Happy one year blogiversary to Market Talk. (DJ Market Talk)

Umair Haque, “Despite all the excitement surrounding social media, the Internet isn’t connecting us as much as we think it is. It’s largely home to weak, artificial connections, what I call thin relationships.”  (HBR)

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