Faber: Look out! A 1987-style Crash is Coming

Posted by Marc Faber

Share on Facebook

Tweet on Twitter

Screen Shot 2013-08-09 at 2.29.43 PM

Screen Shot 2013-08-09 at 2.29.43 PM

Market too bearish Gold. He likes it…..

Marc Faber: Look out! A 1987-style Crash is Coming

 “In 1987, we had a very powerful rally, but also earnings were no longer rising substantially, and the market became very overbought,” Faber said on Thursday’s “Futures Now.” “The final rally into Aug. 25 occurred with a diminishing number of stocks hitting 52-week highs. In other words, the new-high list was contracting, and we have several breaks in different stocks.”


US Market : The Majority of Stocks have peaked out

Marc Faber : “The only way this market can go up is if the 10 or 50 stocks that are very strong…


Marc Faber: The Market to Drop 20% this year

“If you look at the last two days,” Faber said, referring to Tuesday and Wednesday, “it’s remarkable. We are close to the all-time high, at 1,709 on the S&P, and yet yesterday and the day before, there were 170 new 52-week lows. That’s a very high figure.” 


Marc Faber: Market has gotten too Bearish on Gold

Faber believes that sentiment has gotten overly bearish around gold. He likes it He likes it for the long-term, and he’d also buy it for a bounce.