The Fed's 'tapering' comments have ramped up market volatility and Faber gives some advice for short and long-term strategies. For example: "The best course of action is to actually not buy anything, but rather to reduce positions on a rebound," Faber said: Also, "New highs in emerging markets and in high yield bonds are out of the question, and if it happened in the S&P, which I don't believe, it would be driven by very few stocks. Longer term, the market is far from oversold. It still has considerable downside risk everywhere," he said.
Finally, buy more gold......he is.
- Source, The Market Oracle: