waiting it out...

Where we're at:

DJIA 12,441.58
S&P 500 1,331.10
10-Yr T-Note 3.06%
s&p P/E: 23.52
VIX: 13.70

equity: 32
bond: 32
cash: 36

1yr: 7.1%

May has given us the first down month since Nov 2010. The market seems to be waiting for the Fed to back out of QE2. The economy still seems sluggish, as first quarter GDP (revision) came in at 1.8%. Vanguard lowered minimums on several funds including one I have been watching, so I relented and invested some of spouse's rollover cash into it and started an auto plan. I need to put the money to work for her.

The rumors continue to fly that we're in for more layoffs, still just rumors and I don't have any specific source. CSNA had some good news on Friday, a contract with the Air Force was announced. People seem extra jittery because Pelton is gone. It seems like the right move to me. But we'll see.