We should not look only at indexes because a lot of stocks now are lower then they were in May, like the oil stocks, resource stocks are down from the peak in May/June of this year.
So, some correction has been under way already and also in global markets we had corrections like in China where the index is down almost 20% from the peak and isn`t higher then in June.
So after this run up in stock prices we had between March and June, since then the market has continued to go up, but the big move was between March and June.
I would also like to point out that the Euro currency has been trading in a narrow range against the US dollar, since June we are at the same level around 1.4300. And I believe that in the next 10 days, 2 weeks, we will have big moves in the markets and I wouldn`t be surprised if the dollar strengthned and equity markets would correct and possibly quite meaningfully. in NDTV video interview
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.
