Marc Faber sees short-term Opportunity for Stocks but long-term Drops.

Marc Faber, editor of The Gloom, Boom & Doom Report, sees short-term opportunity for stocks but long-term drops.

Marc Faber : the stockmarket isn't oversold in anyway except for the next ten days on a very short-term basis. but longer term, we're still overbought, not just in the u.s. but in many other countries as well. the ten years is very oversold and near term and into immediate term and gold is even more oversold.

I think as an investor, you need discipline and patience. and i think the best course of action is actually not to buy anything but rather to reduce positions on a rebound.

no, Ithink the s&p could rebound to around 1630, 1640.
 well, i think the high was 1687 on may 22nd and will go down 20 to  30 percent