Marc Faber Says Market Extremely Oversold, Expect Bounce

By on August 5, 2011

Marc Faber said markets are normally volatile and most investors aren’t accustomed to the movements we’ve seen recently. He doesn’t consider this a major sell-off yet, but there will be a snapback rally of 40-50 points on the S&P 500 since stocks are extremely oversold.

Faber expects the Fed to initiate QE3 before long. A video interview follows on the next page.

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