Here are seven (or so) links at 7AM Eastern.  Good luck out there today.

Indications the markets may be overbought for now.  (Trading the Odds, Global Macro Monitor)

What if the market has already de-risked enough for most downside scenarios?  (Doug Kass)

Are today’s markets all that much more difficult that earlier eras?  (Economic Musings)

The widely-read quarterly letter from Jeremy Grantham is a bit of a downer.  (FT Alphaville)

The risk of the “Corzine trade” at MF Global was well known to the board.  (WSJ)

The CFTC votes to tighten rules on futures firms.  (WSJ, FT)

A shot across the bow to Europe’s AAA-rated economies from S&P.  (FT, WSJ, FT Alphaville, Money Game)

Europe apparently hasn’t learned anything from Ireland.  (Felix Salmon, NYTimes)

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