Gold and silver have separated themselves from other commodities.  (Barron’s also FT, FT Alphaville)

Bullish sentiment has backed off of its highs.  (Bespoke)

Two contrasting market signals.  (Trader’s Narrative)

Relative sector performance post-flash crash.  (StockCharts Blog)

Why volatility may be here to stay.  (TheStreet)

Surprisingly Greece is not the worst performing stock market YTD.  (Bespoke)

The Chinese stock market is down to levels not seen since May 2009.  (WSJ, Afraid to Trade also Michael Pettis)

The Swiss franc continues to rally against the Euro.  (MarketBeat)

How to play Pimco’s gloomy market outlook.  (Felix Salmon)

When is a market maker not a market maker?  (FT Alphaville)

What are “stub quotes” exactly and why do market makers use them?  (MarketBeat)

Retail investors don’t like it when the market crashes.  (Zero Hedge, Time)

The ETF industry has grown at the expense of its market making duties.  (Morningstar)

The ETF machine rolls on.  (State Street via research puzzle)

The NYSE wants to use the “flash crash” to its advantage.  (Fortune)

Those puts that supposedly crashed the market are down 50% in value.  (Falkenblog)

A stronger economy is making bankruptcy proceedings a little easier for some companies these days.  (WSJ)

Can managers use behavioral finance theory to make money?  (Institutional Investor, ibid)

Risk levels matters more than how you get there.  (Random Roger)

Momentum is here to stay.  (Systematic Relative Strength earlier Abnormal Returns)

Build America Bonds make up 26% of muni bond issuance this year.  (Bloomberg)

How exactly did the banks rack up “perfect” trading quarters?  (Kid Dynamite)

Blanket investigations of Wall Street help, you guess it, Goldman Sachs (GS).  (Clusterstock also Economist’s View, Big Picture, Felix Salmon, Planet Money, True/Slant, MarketBeat)

Looking for some middle ground on the role Fannie and Freddie played in the housing bubble.  (Cafe Hayek, Big Picture)

Sen. Kaufman was right on the issue of dark pools and HFT.  (Baseline Scenario)

The BDI is rallying and Greek shipper sail though the crisis.  (The Money Game, WSJ)

The trucking recovery seemed to have stalled in April.  (Calculated Risk)

Why isn’t there more outrage about high unemployment rates?  (Free exchange, Capital Spectator)

Given weak employment news, why haven’t wages dropped?  (Economix)

Worries about the US budget deficit are overblown.  (Ezra Klein)

Emerging market banks are homebodies.  Is that about to change?  (Economist)

Tough economic times make a transition away from coal even more difficult.  (Gregor Macdonald)

Proposed legislation would make natural gas-powered trucks a slam dunk.  (The Reformed Broker)

Inside the byzantine world of Facebook privacy.  (NYTimes, Gapper Blog, GigaOM, BuzzMachine)

Facebook vs. Twitter.  (TechCrunch)

Verizon wants the iPhone…Apple wants Verizon.”  (Daring Fireball)

For all you Charlie Munger fans.  (kottke)

A profile of Tyler Cowen.  (WashingtonPost also Planet Money)

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