I'd like to share this little tidbit from todays report at www.comstockfunds.com - "Every day, it seems, we get more evidence that the so-called economic recovery is faltering. April employment was up 43,000, but the March number, originally reported as up 58,000, was revised downward to minus 21,000, a swing of 79,000. Similarly, the February figure, initially reported as plus 66,000, now stands at minus 4,000. With substantial downward revisions such as these, the current release showing a turn toward growth must be taken with a grain of salt."
Has anyone else noticed the fact that these unemployment numbers get announced with trumpets and fanfare when they are first released, and then when the revised numbers come out they are buried on page 47, under the ads for dry cleaning? Is anybody buying this anymore?
Anyway, I've been out of stocks for over a year now (except for some short positions) and I'm entirely in cash and real estate now (house is paid for). The big question is do I buy some gold now or wait a week or two for a possible momentary dip in prices? As far as this market is concerned, I'll go long again when P/E ratios matter again. The current multiples are just silly.