Chart of the day

CMG data by YCharts

Chipotle Mexican Grill (CMG) continues to disappoint.  (CNNMoney, chessNwine)

Markets

Correlations are ticking up.  (The Reformed Broker)

Where are all the 52-week highs?  (Bespoke)

The myth of the January barometers.  (Bianco Research)

Five reasons to be bullish vs. six reasons to be bearish.  (Pragmatic Capitalism, ibid)

Investors continue to pour money in muni bonds.  (Bloomberg)

Apple

The broader market has held up despite the pullback in Apple ($AAPL).  (Phil Pearlman)

Putting the decline in Apple into perspective.  (Bespoke, Avondale Asset)

Apple is still cheap, but overloved.  (CBP, Big Picture)

Strategy

Dividends still matter.  (AlphaNow earlier Abnormal Returns)

Under what circumstances illiquidity provides a return benefit.  (SSRN via @quantivity)

Companies

Facebook Graph Search is live, but is it any good? (Slate, SplatF, Business Insider, Quartz)

Could Dell ($DELL) actually make a go of it as a private company?  (Quartz, WSJ contra Pando Daily, Term Sheet)

How Lenovo became the world’s largest PC manufacturer.  (Economist)

Amazon ($AMZN) vs. FedEx ($FDX) over the long run.  (Howard Lindzon)

Finance

JP Morgan ($JPM) and Goldman Sachs ($GS) are doing just fine.  (Dealbook, ibid)

Checking in on the Ira Sohn Conference stock picks.  (FT Alphaville)

ETFs

What’s the hold up on active ETF approvals?  (FT)

Half of all US ETFs have less than $100 million in AUM.  (IndexUniverse)

Traders love them the sector SPDRs.  (FT)

How Schwab ($SCHW) and the Powershares DWA ETFs are doing at pulling in assets.  (IndexUniverse, ibid)

Economy

The economy did alright in December.  (Real Time Economics)

December industrial production has not yet rolled over.  (Capital Spectator)

Gasoline taxes are in flux.  (Daniel Gross)

Why Japan’s stimulus is a bad idea.  (FT)

Mixed media

Exercise to boost the response to the flu shot.  (Well)

How much caffeine is there in that drink in your hand?  (The Atlantic)

Coughs last longer than people think.  (LiveScience)

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