Bear Markets are characterized by very Sharp Rallies that can fed relatively quickly

Q: Are we done with this current round at least, do you think we are close to the bottom, how would you read this mega rebound rally that has been underweight today in many markets, the US, Europe and of course in Asia, how do you read today's rally and how far away from the bottom do you think we are?

Marc Faber : Bear markets are characterized by very sharp rallies that can fed relatively quickly. In the US last Friday we also have the huge rally from the lows, the market still closed down and it was unusual. This is very seldom that this happened and it is indicative that precisely most stocks have been weak for a long time and it is also indicative that we are in very oversold position but the oversold position can lead to a rally but most likely and I am saying most likely not to new highs.

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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.