Marc Faber chewed out CNBC in an appearance today and said stocks will fall 20-30%. Then again, he’s had the same act for years.
On a positive note, he said Chinese shares were breaking out and suggested buying Hong Kong stocks. The Hang Sang index is up 4.5% in the past week.
The index has languished in a sideways move for 5 years after the crisis but is now just 2% from the 2010 high.
Hang Seng weekly chart
That IS a good looking chart. Nice series of higher lows since late-2011 and it does look poised for a breakout and rally toward 30,000.
