Stocks closed mixed on a quiet day of trading Monday, but fears continue about a possible 1987-like collapse in the coming months.
Marc Faber, publisher of the Gloom, Boom & Doom Report foresees a possible 20% drop in stock prices, telling CNBC we're showing symptoms similar to what led to Black Monday.
“The new high list was contracting, and we had several breaks in different stocks,” he said.
KTRH money man Pat Shinn also sees a drop coming soon, but nothing to panic about just yet.
“We normally get a larger pull-back than we did the last time, so I'm expecting something greater than 5%, but certainly nothing close to what we saw in 1987.
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Shinn says Black Monday was due mainly because of over-evaluated stock prices which he insists is not the case now. However, its never a bad idea to keep an eye on your investments.
“I would certainly evaluate where I am, and make sure what I have in the market is long-term money,” he said.
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