I was going to come into this saying the market is just a casino for traders to make money. On days like this where economic data continues to come in atrocious it certainly feels like rolling dice:
Dec. factory orders declined for the 5th month in a row. The 3.4% plunge is the second largest monthly drop since Mar. 2013.
U.S. factory order declined by 3.6% for the year ended Dec. 2014. That is the largest year-over-year decline since Nov. 2009.
The market staged a massive rally off that data. Crude Oil also ignored the fundamental oversupply/underdemand paradigm it is in and staged an impressive rally today. I get it, oil crashed and was likely due for some sort of bounce but the hard data continues to come in negative and I don't see it actually bottoming until the supply/demand paradigm balances. the USD did back off a little bit and helped commodity prices go up but I expect the weakness to be short-lived. The rest of the world is still lowering interest rates in the race to the bottom.
Easing in 2015: Singapore, ECB, SNB, Denmark, Canada, India, Turkey, Egypt, Romania, Peru, Albania, Uzbekistan, Pakistan, Russia, Australia
For now I remain patient. Let the robots fight the day to day skirmishes. I have much greater ambitions than a few points here and there. I may end up be proven wrong but I doubt it... Just give it some time