If you haven’t done it already think about signing up for our daily e-mail, thousands of other Abnormal Returns readers already have.

Quote of the day

Joe Fahmy, “The ultimate goal for all traders is: Get to the point where you can make confident decisions on your own and trade with complete independence.”  (Joe Fahmy)

Chart of the day


Defensive sectors have started to lag.  (StockCharts Blog, Market Montage)


When defensive stocks become offensive.  (The Reformed Broker)

Emerging markets and technology are showing signs of life.  (All Star Charts)

Look at what markets are leading markets higher.  (Dynamic Hedge)

A look at some potential divergences.  (Humble Student)

April’s major asset class performance.  (Capital Spectator)


What happens after six straight months of market gains?  (Quantifiable Edges)

Every investment strategy is going to lead to some “restless nights.”  (Above the Market)

Selling covered calls is same as being short puts.  (In Pursuit of Value)

What it takes to built a successful prop trading desk.  (SMB Training)

The downside of living in a 401(k) world.  (Slate)


Checking back in on Apple’s ($AAPL) valuation.  (Musings on Markets)

Why Apple doesn’t merit a AAA rating.  (Dealbook)


What the end of the global mining boom means for equipment manufacturers.  (FT)

Company founders don’t always do well even if the company does.  (Dealbook)


High speed traders win again, this time at the CME.  (WSJ)

Hedge funds have jumped into the tax lien business.  (Fortune)

A critical look at Lending Club return statistics.  (MoneyWatch)


Megacaps are the original low vol stocks.  (Morningstar)

Sector ETFs turn 15 years old.  (IndexUniverse)


What if the Yen reverses course?  (FT Alphaville)

What the ECB can and cannot do to fix Euroland.  (Gavyn Davies)

It’s 2005 all over again in the global credit markets.  (MoneyBeat)

How has the anti-corruption program affected the Chinese economy?  (Sober Look)

Problems down on the Australian farm.  (MacroBusiness)

Maybe this shale gas thing is harder than it looks.  (WashingtonPost)


ADP continues to show slow employment growth.  (Calculated Risk, Capital Spectator)

The stock market is not divorced from the economy.  (Bonddad Blog)

Why US manufacturing is making a comeback.  (WashingtonPost)

Regional manufacturing reports are coming in weak.  (Pragmatic Capitalism)

What is the most average place in the US?  (Marginal Revolution)

Mixed media

Justin Fox, “Capitalizing on others’ unpaid labor is a great business – until suddenly it’s not.”  (HBR)

People are inspired to come up with good ideas to ward off bad ones.  (Medium via DF)

How to be gracious.  (Esquire via Kottke)

Thanks for checking in with Abnormal Returns. You can follow us on StockTwits and Twitter.

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Please see disclosures here.

Please see the Terms & Conditions page for a full disclaimer.