Thursday links: required re-test

The re-test of the October lows is here. (Big Picture also Trader’s Narrative)

Persistently high implied volatilities have cut into options trading volumes. (WSJ.com)

Sentiment data is murky on whether “the low” has been found. (Barrons.com)

High daily volatility can continue for quite some time. (MarketSci Blog)

The best way to save Goldman Sachs (GS). Gasp, lower compensation. (Deal Journal)

“Is GE’s dividend safe?” (Fortune.com also Crossing Wall Street)

Is Google (GOOG) finally cheap? (Silicon Alley Insider)

Irrational exuberance, indeed. Equity returns trail T-bill returns since 1996. (Marketwatch.com)

Activist shareholders are getting more “creative and aggressive.” (TheDeal.com)

Oversight of the TARP is limited, at best. (WashingtonPost.com)

The case for a General Motors (GM), or least Midwest, bailout. (Market Movers also The Balance Sheet)

“(T)here is no good reason not to let non-financial businesses go into chapter 11.” (Brad DeLong)

Swings in supply and demand explain why ” prices are very unlikely to reveal all available information…” (Odd Numbers)

“Relying on the housing market to propel growth is a failed policy.” (Economist’s View)

Another high-profile blogger exits Seeking Alpha. (Information Arbitrage)

Times are tough when the Red Sox choose not to raise ticket prices. (NYTimes.com also Deadspin)

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