The April Fool's Day Head-fake

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Tensions grow high on the old pagan day celebration as we watch the headlines, wary of being caught up in a journalistic prank or three. It is not hard to be a skeptic, if you think about it. There have been some rather savvy pranks over the years, including the 1957 BBC program "Spaghetti trees," purporting to show the hanging pasta harvested from trees, the space shuttle's emergency diversion to Cumbernauld airport, Eminem's free concert in the parking lot of an unaware super-store as announced on a local radio station (the DJ's were arrested when a riotous crowd blamed the store), the "cancellation" of the Howard Stern show due to FCC pressure, the Buddhist baseball master Sidd Finch and his 168 mile per hour fastball, Coldplay's decision to endorse the UK's conservative party, the assassination of Bill Gates (Korean stock market lost 1.5% in the ensuing panic) and suchlike.
With a history like this, we are sharp-eyed today, looking for the next iffy story that might catch us unawares. Which will it be?
Bloomberg - Lehman Gains as $4 billion Share Sale Calms Investors
The New York Times - "Investors hoped that mortgage-related write-offs at UBS and Deutsche Bank could signal the last of Wall Street’s subprime woes."
DealBook - Dimon's Compensation Rose 5% at JP Morgan
SeekingAlpha - RIM, Mosaic Earnings Should Provide Upside Surprise
SeekingAlpha - IBM Suspended From Any New Federal Work
RealClearPolitics - The Dems Can Go Nine Innings
Or my personal favorite:
Wall Street Journal - Third Avenue Management: Uptick Rule Change Spoiled my Long Positions in CIT, MBIA, Ambac.
Did we miss any? Let us know in comments.
(Did we catch you with ours?)

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