This week was a great example of what climbing the wall of worry is all about. On one hand, we had a run of worrying economic readings here and abroad, meeting more bad job news in Australia. Then the Yanks trumped that with the S&P 500 index smashing the old all-time closing high of 1848.38 to finish at 1854.29 on Thursday.
This led me to worry about and ponder: could those positivity-loving Americans get up and do it again on Friday? And yes, they did!
And what happened to local negativity when our US buddies hit the buy switch? Yep, we went long stocks, with the S&P/ASX 200 index spiking up 24 points in early trade on Friday, though, as per usual, we chickened out by the afternoon to be down a few points.