Markets to Rally?!? Dr. Doom Calls a Short-term Bottom of 1,045 on the S&P 500

The S&P 500 hit Dr. Doom's (Marc Faber) 1,045 bottom intraday today. Markets rallied 1% soon after. "We're oversold near-term, not from a longer term perspective" says Faber.

(Bloomberg TV, 5/25/10)