Editor's Note

Investors looking for a buying opportunity in small caps should be prepared. Yesterday I mentioned that the 1,650 level on the Russell could be a potential buy point. The index hit 1,653 today. After multiple days of capitulation like declines we could be at a critical point. A breakdown from here could tank the entire market since sentiment would be damaged. This could be a buy point or it could be the start of a dramatic market change. I would vote for the buy point today but my vote does not count.

 

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