The S&P 500 cracks its 200 day moving average.  Should we be worried?  (Crossing Wall Street)

Nasdaq internals are deteriorating, but not yet oversold.  (Big Picture)

Sentiment is bearish, like crash bearish.  (The Reformed Broker)

Fibonacci levels suggest a market high has already been seen.  (Trader’s Narrative)

“Investing, says Seth Klarman, used to be like checkers. Now it’s like chess–a lot more complicated.”  (ROI also Reuters, market folly, Street Capitalist)

Gold is the last refuge of the desperate.  (Credit Writedowns)

“Every 50% loss starts as a 10% loss.”  (Mark Minervini)

We need “yardsticks for pundits” but it is more complicated than than.  (the research puzzle)

“In money matters you get out what you put in. Opinions alone are not enough.”  (The Psy-Fi Blog)

Small hedge funds take it in the shorts.  (CNBC, Dealbreaker)

Warren Buffet isn’t perfect.  (MarketBeat)

Want to play volatility?  Then use options.  (Daily Options Report)

Volatility, luck and a margin of safety.  (Abnormal Returns also Random Roger, MarketBeat)

Private equity IPOs have gotten the better of investors this year.  (BusinessWeek)

Another round of debt restructuring is coming for troubled companies.  (DealBook)

For ordinary investors the flash crash was a non-event.  (WSJ)

Investors need to better understand the mechanisms behind ETF (il)liquidity.  (FT Alphaville also Morningstar)

Evidence that Ben Graham’s net current asset value strategy still works.  (Simoleon Sense)

Goldman now trades just a touch above book value.  (Felix Salmon)

Goldman Sachs (GS) top trades have not worked out for their clients this year.  (Bloomberg, Zero Hedge, Bespoke)

Are clients finally tired of conflicts at Goldman?  (NYTimes, naked capitalism also Daily Intel)

The oil/natural gas ratio comes in as oil drops.  (Bespoke also MarketBeat)

Is there such a thing as a “all season” portfolio?  (Marketwatch earlier Abnormal Returns)

Why do closed-end bond funds exist?  In short, leverage.  (SSRN)

What the SEC is proposing to prevent future flash crashes.  (WashingtonPost, WSJ)

It is hard to make the case for inflation in this economic environment.  (Professor Pinch also Pragmatic Capitalism, Carpe Diem, BondSquawk)

No inflation here.  (EconomPic Data, Calculated Risk)

Germany “goes rogue” by banning short-selling.  (WSJ, MarketBeat, FT Alphaville, Deal Journal, The Money Game, The Source)

Could the German short-selling ban go EU-wide?  (Bloomberg, FT Alphaville)

Saving the Euro will require reduced sovereignty and a Greek debt swap.  (Project Syndicate, voxEU)

The Euro crisis shows how a gold standard would work.  (Pragmatic Capitalism)

Japanese banks are in the midst of a capital raising “frenzy.”  (FT Alphaville)

Can China handle its inflation problem?  (Fortune)

How much does the Euro crisis matter for China?  (China Financial Markets)

How to play China’s growth – buy fertilizer.  (Times Online)

The fiscal situation in the US is not all that different than Europe.  (WashingtonPost)

Is Canada’s real estate boom/bubble ready to pop?  (TheStreet)

Carried interest tax changes are likely to pass this time around.  (Bloomberg, peHUB)

The brave new world of money management.  (Institutional Investor)

Big tech seems to have started spending its cash hoard.  (GigaOM)

On the rise of the Huffington Post and Bloomberg News. (SAI, The Atlantic)

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