Good morning and welcome to another edition of our morning linkfest.  Tell us what you think.

Don’t look now but some indices are already at all-time highs.  (Marketwatch, WSJ)

The (earnings) expectations ratio is still positive.  (Pragmatic Capitalism)

Economic optimism goes viral.  (The Reformed Broker)

Who determines market valuations?  The big money, and they don’t blog.  (A Dash of Insight)

Don’t bet on QE3 at this point.  (WSJ)

What’s driving surprisingly strong US manufacturing growth?  (Street Light)

On the responsibility of commentators, like Cramer, when they change their mind on a stock.  (ValuePlays)

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