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Real Time Insight

The market sold off considerably this week after a couple of strong days that gave us some hope. Technology was the hardest hit as the NASDAQ gave up over 5%, the Russell 2000 was off over 4.5%, the S&P 500 more than 3%. That was our domestic market, internationally the Nikkei was off more than 7%, the DAX 4% and the FTSE 2%.

After the dust settles on today's session we could be even lower. With a lot of the big names selling off the last week including TSLA and FB, lots of investors have felt the pain of the week that was.

My question is, is it time to come in and start bargain hunting or is there more pain next week?

Remember, all of this is happening as we head into earnings season. The numbers and the forward guidance are unknowns right now that could have a significant impact on the market in the next few months.

I've heard the study about how April 15th carves out a low every year for the last 15 years or something outrageous like that so perhaps all this is over come Tax Day. I think the Fibonacci support for the Russell 2000 is right around here, as well as monthly support on the SP 500 so I'm in the bargain hunting camp over the short run.

Long term I still think the market is poised for a further run, but it's not going to be as easy as 2013. It will be a stock pickers market and I'm not just saying that because I'm a stock picker.

Chime in below and give me something to think about this weekend.

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