This is an early edition of the linkfest.  Keep an eye on AR Now for further updates.

The smart money is “massively” short Nasdaq futures.  (Big Picture)

Bubble talk keeps percolating about the emerging markets.  (beyondbrics, ibid)

The bullish case for equities based on earnings.  (Scott Grannis)

Goldman strategist says favor equities over bonds.  (WSJ, Street Sweep)

Some equity markets have put the financial crisis in the rearview mirror.  (Bespoke)

Adam Warner, “(H)igh correlation is a sign of apprehension and fear.”  (Daily Options Report)

What exactly is “delta decay“?  (Condor Options, Investing With Options)

What is a ‘risk parity‘ fund?  (World Beta)

Why exactly would some one want to buy Sara Lee (SLE)?  (Lex)

Doing the math on AIG (AIG).  (Dealbook, Felix Salmon also WSJ)

There is still a lot we don’t know about the Flash Crash.  (FT Alphaville, Breakingviews)

Is the foreclosure scanadal going to increase the number of strategic defaults?  (ROI also Big Picture)

Bank managements has done more damage than any rogue trader ever has.  (Lex)

An indicator saying the economy has rolled over.  (Pragmatic Capitalism, Money Game, ibid)

The QE wars have begun, i.e. Japan.  (FT Alphaville, WSJ, Pragmatic Capitalism)

Are the benefits of QE2 being oversold?  (TheStreet)

Concerns about rare earth metal supplies are spreading.  (NYTimes)

Another sign that interest in investing in farmland has gone mainstream.  (Zero Hedge)

Steve Ballmer has been blind to the threat from Apple (AAPL) for some time now.  (Jeff Matthews)

How big a deal is Android?  (Newsweek via Daring Fireball)

Can Chicago become a tech startup hub?  (Term Street)

Dealbreaker is in play.  (Business Insider, Dealbook, Felix Salmon, Big Picture)

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