Good Morning folks,
Well this week was pretty much what most predicted on the news fronts. GDP was higher then expected and existing home sales was higher, Which really surprised me. Most of the employment indicators were not good. The financial and automotive sectors being hit the hardest, watch out in the upper Midwest and northeast. The employment numbers are going to get worse in my opinion, because the next few numbers will show the fluctuation in temp jobs being sent home after the holidays. With consumer confidence lower I don't see us having a good holiday spending season even though black Friday had good numbers.
I wouldn't suggest anybody invest into any US mutual funds or ETF's until after January. Because the numbers will only get worse. I have alot of people asking me if gold is a good investment right now. My answer is no. Because inflation has already risen alot and i don't see gold going on a big bullish run. 2004 was the last real good time to invest int gold. I would suggest investing in foreign funds to help diversify and leverage your portfolio.
Note, DO NOT sell any of your American funds. We are in a market correction this is a normal economic fluctuation. Just wait, it will correct itself.
Have a good weekend
JP
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