Well, I'm going to get all religious on you, so please bare with me.
According to the Catholic Christian faith, it is wrong to be homosexual, because sex and marriage were created for a man and a woman. God still loves you and supports you, but you are called to refrain from any homosexual acts and withstand the temptations. It isn't a sin to be homosexual, but it is a sin to act on it.
So, if you're Catholic (or even just Christian, I believe), you are SUPPOSED to suppress your feelings and lead a Christian life.
But my liberal ways of thinking tell me that if you ARE homosexual, you should come clean about it. Like SK said, not all on public broadcast, but letting those you trust know how you feel will break down walls between you and make you feel more comfortable.
So I guess what I'm saying is that if you're a Christian, to talk to your minister and try to suppress your feelings, but if you're not of a Christian, to let a few close friends know where you stand sexuality-wise.