Thursday, March 3, 2016
Oil could easily rebound by 10 to 20 percent
In particular, momentum stocks got hit hard, and can move higher from current prices, Faber said. The oil sector could "easily rebound" by 10 to 20 percent, he added. "That could drive the market up to maybe around 2,050, but I don't necessarily see new highs, and if new highs happen, they will happen with very few stocks participating,"
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.
Posted by Nicole Bourbaki