Mr. Faber argues that sentiment on stocks is very negative and that the stock markets are oversold near-term. He indicates support on the S&P 500 of 1,045 based on the February 5, 2010 low. Also, June and July are historically better months for the stock markets, so there is a possibility of a summer trading rally before the stock markets cool again.
Long-term Mr. Faber is bearish on stocks.
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