Lol, Yahoo! Finance is the best contrarian indicator there is ---- contrarian as in if you fade Yahoo! news articles, you're guaranteed to win!
Not to pick on Faber but way to stick your neck out. WTF Rally 40-50 points?? Volatility has us moving up and down 50 points in a day now. Monday is gonna be wicked volatile. This may not play out how people think. Money flows can be tricky. For instance---World markets WILL ROIL. So where is the safe haven---THE USA!!! Counterintuitively we will have a run to the USD and we may rally in stocks with a short squeeze type of knee jerk turnaround. I wouldn't bet on a complete meltdown---yet---to 1057 in the spus. The market is tricky. The Whitehouse has taken the gloves off already discrediting S & P McGrawHill saying they haven't had it correct in the past why should we believe them now. Today's sell-off and last weeks for that matter was most likely sell the rumor and next week maybe buy the news. This armageddon newscasting is gonna have people freaking out and the question is what does vix do? If vix continues to expand stay away. Wait for volatility to contract before going long but I wouldn't be too comfortable being short over the weekend cause alot can happen and you can be sure Obama has something planned. The market bottomed the day Obama said "This is a good time to buy stocks" in 2009. (http://www.nydailynews.com/money/2009/03/03/2009-03-03_take_careful_stock_of_politicians_money_.html)