Marc Faber : The Markets are at the Difficult Juncture between Overbought and a euphoric state

Marc Faber : "Not really because we made the secular low roughly one year ago, but I have argued that it is the time right now to reduce equity positions. I think the markets are at the difficult juncture between overbought and a euphoric state. I am not ruling out that they could go up somewhat more like in 1987, going up 40% between January and August, but we also fell 40% in two months' time. So the gains were wiped out quickly. In March of 2009, we are close to 1,500. We had already a huge bull market, and a lot of the good news has been discounted already." - in BLOOMBERG