Marc Faber: Markets Oversold, Set for Short-Term Rebound

"I think that near-term stock markets around the world are very, very oversold and most oversold since February, March 2009 and 1987," Faber said. "(It) doesn't mean that they can't go lower, but I think they will rebound.

http://www.cnbc.com/id/44068961

Mr. Gloom and Doom has spoken. Greetings.

 

lol at comment:

GannFann | Aug 9, 2011 12:44 AM

"He is mad because he covered his shorts to early."

 

Of course they are. But how long do you hold the firecracker after you light the fuse? I'm sitting on the sidelines till we see some strength.

 

breakout here on es at 1100, need a thirty point stop though!

 

Faber is great. Very prescient.

 

he got his gold story right and has chf's. one summer wonder