Marc Faber, Gloom Boom & Doom Report editor, reveals his
bleak outlook on the markets this summer; and explains why events like Cyprus
are likely to happen in more countries.
In the near-term, the U.S. stock market is overbought and
adding that any more near-term gains portend big trouble for the market,
"The Gloom, Boom & Doom Report" publisher Marc Faber told CNBC on
Monday,
"If we continue to move up, the
probability of a crash becomes higher," Faber predicted in a "Squawk
Box" interview, saying it could happen "sometime in the second half
of this year." By his calculations,
Faber said the bull market began four years ago with important stocks recently
"breaking down," such as Oracle and FedEx. "Can we go up just on
a few stocks like Johnson & Johnson, Procter & Gamble, Wal-Mart, and so
forth?" he asked and answered: "Possibly."
Read more at http://www.cnbc.com/id/100623607
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