“As of a week ago, the U.S. market became very oversold,” Faber said. “It’s rebounding, but in my view, we’re not going to see any new highs.”

Chinese Economy hardly Growing , Do Not Buy any Chinese Stocks at The moment

We have now hard evidence that the Chinese economy is hardly growing at the present time,””If China slows down, the demand for industrial commodities goes down. It affects all the resource producers: Argentina, Brazil, the Middle East, Central Asia, Africa, Australia,” Faber said Monday. “That can have a huge impact on the global economy.””It’s still a fragile situation,” he added, urging Americans to avoid the temptation to buy Chinese stocks despite government measures to bolster investor confidence. “I don’t think that Chinese stocks are attractive and I would just stand aside.” “We just heard from the Australian treasurer that growth this year in China will be 6.75 percent. It’s a pipe dream that will never materialize. Maybe that will be published by the government but the reality is that Chinese growth has slowed down to trickle,” he said.

More from Marc Faber HERE