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U.S. stocks are overbought, says reknown perma-bear Marc Faber, and any more near-term gains are...

U.S. stocks are overbought, says reknown perma-bear Marc Faber, and any more near-term gains are going to be big trouble for the market. As we continue to move higher, the probability of a crash becomes higher as well. The next crash, he says, could be worse than the one that crushed world markets in 2008. "The next crisis could lead to a deflationary bust. And a bust in governments. In other words, we may have a total collapse in confidence in the system."
Comments (24)
  • al roman
    , contributor
    Comments (6942) | Send Message
     
    That is always in the back of my head,watch out for ourselves and each other,it is kind of drastic though,and it seems some one is always saying it.
    8 Apr 2013, 08:16 PM Reply Like
  • al roman
    , contributor
    Comments (6942) | Send Message
     
    What's Duke starting there own space program or something.
    8 Apr 2013, 08:38 PM Reply Like
  • Joe2922
    , contributor
    Comments (421) | Send Message
     
    "Weakest bull market ever seen" ADX is turning down, while indexes are very overbought in weekly charts. Old bull on its last legs now.
    Charts, discussion, comments:
    http://bit.ly/WpVqYk
    8 Apr 2013, 10:27 PM Reply Like
  • al roman
    , contributor
    Comments (6942) | Send Message
     
    Looking at the sectors at the end of the day does look like a pattern has developed "Widows & Orphan's pension"seems to come out on top quite often.
    8 Apr 2013, 10:40 PM Reply Like
  • Macro Investor
    , contributor
    Comments (9050) | Send Message
     
    This guy needs serious help.
    8 Apr 2013, 08:19 PM Reply Like
  • u01bsb0
    , contributor
    Comments (648) | Send Message
     
    yea its sad how these people have to constantly try and manipulate the market through the media to make monetary gains.
    8 Apr 2013, 08:29 PM Reply Like
  • tunaman4u2
    , contributor
    Comments (3075) | Send Message
     
    Hey Faber, you tell Japan this too?
    8 Apr 2013, 08:24 PM Reply Like
  • mikeg999
    , contributor
    Comments (69) | Send Message
     
    Sooner or much later Faber may be right. Unfortunately, following his sage advice would have been a disaster to one's financial position and outlook.
    8 Apr 2013, 08:28 PM Reply Like
  • blackswans
    , contributor
    Comments (155) | Send Message
     
    If CNBC was smart they would get David Tepper on to argue with this guy. Bullish vs. bearish. It would be epic.
    8 Apr 2013, 08:30 PM Reply Like
  • rungrandpa
    , contributor
    Comments (218) | Send Message
     
    Market crash or correction predictions are always true, sooner or later.
    8 Apr 2013, 08:32 PM Reply Like
  • Macro Investor
    , contributor
    Comments (9050) | Send Message
     
    I would have asked this dude only one question. How can he be so shameless after being so continually wrong?
    8 Apr 2013, 08:33 PM Reply Like
  • Mike Maher
    , contributor
    Comments (2616) | Send Message
     
    When you name your newsletter the Gloom Boom and Doom Report, it sort of pigeonholes you into a view. Even a broken clock is right twice a day. His whole rambling interview is full of "one day, xxxx may xxxx, or blah blah." The only thing I agree with is that a North Korean war could trigger a short recession here.
    8 Apr 2013, 10:57 PM Reply Like
  • Tack
    , contributor
    Comments (13579) | Send Message
     
    Notice, in Faber's above diatribe, not a single fact or rationale cited.
    8 Apr 2013, 09:05 PM Reply Like
  • OptionManiac
    , contributor
    Comments (3342) | Send Message
     
    Just the fear of being wrong.
    8 Apr 2013, 09:59 PM Reply Like
  • Topcat
    , contributor
    Comments (435) | Send Message
     
    In the meantime, use STOPs and buy the dips :)
    8 Apr 2013, 09:06 PM Reply Like
  • DaLatin
    , contributor
    Comments (1522) | Send Message
     
    Gotta luv Faber and he is right and wrong !

     

    As always in life.... it's timing !

     

    Even the mad man Cramer finally got it as he said Sunday on Meet The Press that the stock market buying was foreign ! Not US buying.He said it's EU and Asian fear dollars looking for safety.

     

    Gees, it's about time someone in his position said so..
    I have stated this in comments and stock talks since mid 2012 as 90% of the buying and the 2012 rally was from the EU.. Now do to Japan issues concerning the collapsing of the Yen and strength of the Yuan a great deal of Asian dollars are flowing..

     

    What eventually will happen is the mega dollars in the US that have refused to return to the market will. Folks who swore never again will finally cave and return. Then will see that serge to real new highs and then you'd better have tight stops ! Or sell. Then Faber will be right !

     

    Thee "Street" as WS needs to draw the public in so they can get out. This has been the way for 75 years and it's not going to change now.

     

    Sometimes the horror of being old lets market things like this be redundant !
    8 Apr 2013, 09:07 PM Reply Like
  • Robert Duval
    , contributor
    Comments (4540) | Send Message
     
    Very true. Always has and will always be, a sales game above all else. I do believe the public, is piling in now though....
    8 Apr 2013, 09:48 PM Reply Like
  • DaLatin
    , contributor
    Comments (1522) | Send Message
     
    @Macro, 110% crystal clear it's NOT the US public. Volume is super tiny in the US account #s & $s are clearly foreign ! This isn't an assumption.It's a fact as the funds are easily tracked. So much so Cramer even got it !

     

    The fund flows easily show this ! Even hedge funds are still seeing outflows as there nowhere near the averages !
    8 Apr 2013, 09:53 PM Reply Like
  • Joe2922
    , contributor
    Comments (421) | Send Message
     
    Odd, Art Cashin, whom I respect, said no sign of EU scared money flocking to U. S.
    8 Apr 2013, 10:28 PM Reply Like
  • Robert Duval
    , contributor
    Comments (4540) | Send Message
     
    Various us Centric flow and sentiment data I subscribe to, simply do not support this.
    9 Apr 2013, 05:28 PM Reply Like
  • Macro Investor
    , contributor
    Comments (9050) | Send Message
     
    Hey MT, Great call on those $VXX puts on Friday. Best call I have ever seen you make. Kudos!
    9 Apr 2013, 07:54 PM Reply Like
  • anarchist
    , contributor
    Comments (1414) | Send Message
     
    Man! I was a little worried about this 'energizer bunny' market but now that Marc has made the call for a 'crash' I feel relieved.
    8 Apr 2013, 09:23 PM Reply Like
  • Mrkus
    , contributor
    Comments (24) | Send Message
     
    Better late than never, right?!
    8 Apr 2013, 09:36 PM Reply Like
  • rungrandpa
    , contributor
    Comments (218) | Send Message
     
    fear mongering has always been a profitable business.
    8 Apr 2013, 10:49 PM Reply Like
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