MKW

Dow 10,000 and More Irrational Exuberance

"But this market's ability to shrug off bad news and climb a wall of worry is very impressive and might last awhile longer."

I have a problem with this statement. I don't see the market climbing a "wall of worry" at all. What I see is a market cherry-picking the one spinnable-into-good-news item from the 37 bad news items and then, completely uncritically, going absolutely gonzo with it to the upside. There's no worry here. That's what frightens me.