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Saturday, August 6, 2011

I will be using the rebound as a selling opportunity

Marc Faber : the markets has experienced everywhere huge technical damage and near term as of today all markets are extremely extremely oversold , so rebound is going to happen today or tomorrow I mean on Monday but the damage technically is so great that the rebound no matter if QE3 happens right here it's unlikely to left the market above May 2nd High on the S&P at 1370 my near term target for October November will be something like 1150 on the S&P , then we will have to see if QE3 or QE4 will come and whether the market will stabilize , generally I will be using the rebound as a selling opportunity- in CNBC

Contrarian Investor Dr.Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

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