Always sell in May and go away… except when the first two weeks of May produce more than a 5% gain in the S&P 500 (Disclaimer: past performance is not necessarily indicative of future results). Who knows? Maybe the second half of the month will produce the drop that the bears have been predicting for the last 6 months… but so far the conventional wisdom has definitely not panned out. The trend is your friend, and despite all the misgivings that some people have expressed, this one just keeps marching on. That’s fine by trend followers – we’ll just keep riding the momentum until it runs out. And until then, here’s what we’re reading headed into the weekend:

• What one second of high-frequency trading looks like (The Big Picture)
• Famous futures trader Paul Tudor Jones’ latest project (60 Minutes)
• CFTC vacancies a cause for concern for futures traders? (Wall Street Journal)
• Is your state’s highest paid employee a college sports coach? Probably (Deadspin)
• ICE is booming, thanks to European clearing revenue (Financial News)