Best Financial Markets Analysis Article Marc Faber was interviewed by Bloomberg Tv earlier today. Basically, he doesn’t think that the current down-leg in markets is a ‘major sell-off’, however he does think that ‘as of today, markets are extremely oversold’. See below for the video & summary.

Summary:

So far we haven’t experienced a major sell-off.
‘The world is mad’ — markets fluctuate and investors have to be prepared to experience volatility.
There is a case to be ultra bearish about everything. However, if one is ultra-bearish, it’s still better to be in equities than cash and government bonds.
The technical damage done to the markets since November 2010 is enormous. We’ve seen the highs for the year.
The market is extremely oversold as of today, we could have a ‘snap-back’ rally that doesn’t make a new high.
Maybe we don’t go down to Marc Faber’s previous target of 1100 on the S&P 500 because he can already ‘smell QE3′.
The coming weeks will be important to see whether Bernanke is a ‘true’ or ‘amateur’ money printer.

Aftab Singh is an independent analyst. He writes about markets & political economy at http://greshams-law.com .

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