Quote of the day

“Businesses are producing same GDP as in 2007 with 7.5m fewer workers. That cannot last…”  (Economist)

Chart of the day

The S&P 500 bullish percentage index is pushing into overbought territory.  (jackdamn)

Markets

The energy and materials SPDRs are ‘A’ charts.  (Dragonfly Capital)

Sector rotation shows bullish enthusiasm.  (StockCharts, Afraid to Trade)

Small and midcaps are pulling away from the S&P 500 crowd.  (Bespoke)

A new financial stress index is on the rise.  (Street Sweep)

Now there are two ETFs covering the short-term TIPs market.  (IndexUniverse)

Some big names are sniffing around the hotel sector.  (NYTimes)

Even an economic recovery may not save some states and municipalities from a debt crisis.  (NYTimes)

Bondholders increasing have “targets on their backs.”  (LATimes also NYTimes, naked capitalism)

Strategy and Tactics

How taking some risk off the table can lead to better outcomes.  (Information Arbitrage, Phil Pearlman)

The top 10 errors that trip up the average investor.  (DailyFinance)

“The Switch” is coming.  Will investors fare better with state regulation of investment advisers?  (WSJ)

ARTV with Carl Richards.  We talk about the “overnight test.”  (Abnormal Returns)

Technology

More evidence that early stage funding is getting frothy.  (Dealbook also A VC)

Why Groupon may have rejected the Google (GOOG) offer.  Revenues are running much faster than previously thought.  (AllThingsD)

In light of the Groupon decision is a wave of tech IPOs in the cards?  (DailyFinance)

John Gruber, “iOS is the future, Mac OS X is the past, and Apple is strongly inclined to abandon the past in the name of the future.”  (Macworld)

Half the US will use smartphones by year end 2011.  (Asymco)

Economy

Retail hiring is coming in slower than anticipated.  (Calculated Risk, Money Game, Real Time Economics, Curious Capitalist)

How much should we be worried about the decline of new orders?  (Pragmatic Capitalism)

The double-dip is not necessarily in our rear view mirror.  (Decline and Fall of Western Civilization)

Putting the “mancession” into some perspective.  (Calculated Risk)

“Some decisions lie outside the remit of the markets and if it turns out these are hard problems to solve then so be it. ”  (The Psy-Fi Blog)

Global

Why would Germany want to leave the Euro?  They are the bigger winner in all this.  (Pragmatic Capitalism)

The costs would be high to a country leaving the Euro, but its doable.  (Economist)

China is now officially going with a tighter monetary regime in 2011.  (NYTimes)

Just because

A look at the two sides of the coin that is Business Insider.  (The Audit)

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