Dr. Doom? Marc Faber Sees Stock Buying Opportunity: ""New highs in emerging markets and in high yield bonds are out of the question and if it happened in the S&P, which I don't believe, it would be driven by very few stocks. Longer term the market is far from oversold it still has considerable downside risk everywhere," he said."
He said that if he looked around as a trader, he would rather buy the U.S. ten-year treasury "which is very oversold, where everyone is bearish and where sentiment is terrible" rather than the S&P "where everyone is still relatively optimistic."
"Treasury bonds, gold and equity markets are oversold in the near-term and they can rebound for the next ten days or even the next month," Faber, the author of "The Gloom, Boom & Doom Report," said on Tuesday.
'via Blog this'
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