Quote of the day

Phil Pearlman, “Outrageous predictions are used to manage impressions.  One defers responsibility if wrong and gloats incessantly if right.  It is a manipulative gambit.”  (Phil Pearlman)

Chart of the day

Is a negative divergence forming?  (Trader’s Narrative)

Markets

Technology stocks are underperforming once again.  (Bespoke)

A long term look at cyclical vs. consumer stocks.  (the research puzzle)

Margin debt is back near its highs.  (Pragmatic Capitalism)

Retail has become obsessed with the silver trade.  (The Reformed Broker)

The US dollar should be rallying, but it isn’t.  (Money Game)

What is Jim Chanos up to these days?  (Insider Monkey)

Strategy

Back to cash.  (Joe Fahmy)

Olivier Tischendorf,  “Never chase.  Never force trades.” (Tischendorf Letter)

Outright vs. spread.  Depends how you look at it.  (Dynamic Hedge)

Checking in on the end of the month anomaly.  (Falkenblog)

Managers are still pining for non-transparent actively managed ETFs.  (IndexUniverse)

Vote your proxies!  (Aleph Blog)

Companies

Apple (AAPL) has a post-TV and post-PC strategy.  (SAI, Forbes)

Cisco (CSCO) starts rationalizing its consumer business by closing Flip.  (TechCrunch)

Airlines like lower oil prices.  (MarketBeat, chessNwine)

Finance

For banks QE2 never happened.  (FT Alphaville)

New rules could help disintermediate venture capitalists in the startup funding process.  (NetNet)

Roger Ehrenberg, “The current accredited investor standards are nonsensical.”  (Information Arbitrage)

Insider stuff

Why is insider trading wrong?  (Dealbook)

Why was Raj Rajaratnam willing to go to trial?  (Dealbook)

The Sokol affair seems less and less defensible.  (Clusterstock, Deal Journal)

Global

On the currency carry trade.  (Reuters)

A fund to help you bet against Japan.  (Dealbreaker)

Economy

Small businesses are hiring but optimism dipped.  (Calculated Risk, Money Game)

Economic momentum remains positive.  (Capital Spectator)

Railroad volume is still healthy.  (Bloomberg)

Diesel fuel consumption up in February.  (Calculated Risk)

What the Fed is going to be looking for on the inflation front.  (Economist’s View also Points and Figures)

Earlier on Abnormal Returns

The hedge fund industry survived the financial crisis and is once again thriving.  (AR Screencast)

Our Tuesday morning live link look-in.  (Abnormal Returns)

Mixed media

An interview with David Winters.  (Advisor Perspectives)

Depressed traders make bad decisions.  (FINS)

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