iStockAnalyst summarized Dr. Faber`s view on the US stock market based on his latest Gloom, Boom & Doom Newsletter:
"The stock market is going to rally in the short-term (July-August), but equities will not surpass their previous highs reached back on May 2. After this bounce, Faber believes the market will decline sharply to around 1100 on the S&P 500 (during the September-October period). This is when the Fed will likely consider implementing QE 3 to stimulate asset prices."
Tickers: SPDR S&P 500 ETF (NYSE:SPY), ProShares UltraShort S&P500 (ETF) (NYSE:SDS), iShares Russell 2000 Index (ETF) (NYSE:IWM), PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ), ProShares UltraShort QQQ (ETF) (Public, NYSE:QID), SPDR Dow Jones Industrial Average ETF (Public, NYSE:DIA), Apple Inc. (Public, NASDAQ:AAPL), General Electric Company (NYSE:GE), iShares MSCI Emerging Markets Indx (ETF) (NYSE:EEM), Financial Select Sector SPDR (ETF) (NYSE:XLF), Netflix (NFLX), Ford (F)
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.
