Here are a few links for the morning.  We hope you enjoy the Independence Day holiday.

Peter L. Brandt, “There is not such a thing as “investing” in bullion. Investors buy things (stocks, real estate, etc.) for their dividends and income producing ability. People who attempt to profit from price change are speculators, not investors.”  (Peter L. Brandt)

The percentage of stocks above their 50 day moving averages for some major indices.  (Kagi Trader)

Sometimes the market gives you another chance to get into a stock.  (chessNwine)

What bricks did the market add to the wall of worry this past week?  (A Dash of Insight)

Are profit margins set to decline on a secular basis?  (Money Game)

Are underperforming hedge funds set to pile into equities?  (FT Alphaville)

Why you should invest like a girl.  (Globe and Mail)

What is the proper benchmark for low volatility strategies?  (Portfolio Probe)

On the demise of the iPath® Long Enhanced S&P 500 VIX Mid-Term FuturesTM Exchange Traded Note.  (FT Alphaville)

Seems like it is time for Nasdaq OMX ($NDAQ) and the London Stock Exchange to get together.  (FT)

Anxiety grows as S&P pushes back against proposed Greek debt rollover plans.  (Reuters, FT Alphaville, 24/7 Wall St.)

How kicking the can down the road is only going to make things worse for Europe.  (naked capitalism)

Why the US can never be like Greece.  (Pragmatic Capitalism)

The various ways a trader can short China.  (WSJ)

Short sellers are looking to other markets to sniff out Chinese frauds.  (Reuters)

The global economy is still weakening.  (Gavyn Davies)

Keeping an eye on rail traffic.  (ValuePlays)

This week’s economic schedule includes the June employment report.  (Calculated Risk)

Attribution and credit is still a contentious issue online.  (Big Picture, Daring Fireball)

Happy birthday America, it is time to grow up.  (Barry Ritholtz)

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