In the near-term, the U.S. stock market is overbought and adding that any more near-term gains portend big trouble for the market, "The Gloom, Boom & Doom Report" publisher Marc Faber told CNBC on Monday,
"If we continue to move up, the probability of a crash becomes higher," Faber predicted in a " Squawk Box " interview, saying it could happen "sometime in the second half of this year."
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By his calculations, Faber said the bull market began four years ago with important stocks recently "breaking down," such as Oracle (ORCL) and FedEx (FDX). "Can we go up just on a few stocks like Johnson & Johnson (JNJ), Procter & Gamble (PG), Wal-Mart (WMT), and so forth?" he asked and answered: "Possibly."
"We could on the S&P make a new high," he acknowledged, "but with very few stocks making new highs."
"It's not a very good time to buy stocks," Faber warned, arguing that stocks are not at the beginning of a bull market as many analysts have predicted on "Squawk Box" over the past few weeks.
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