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It's still a bull market for stocks: Laszlo Birinyi

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Still a bull market: Laszlo Birinyi

Investors shouldn't be distracted by the wreck in tech, momentum names or social media—the bull market remains intact, Laszlo Birinyi said Friday.

"I'm still comfortable. Our target is to close above 1,900 this quarter," the founder and CEO of Birinyi Associates said. "I think right now there's an awful lot of noise, and you have to separate the noise from the signal."

Stocks saw a sharp two-day selloff this week, retreating from all-time highs in the S&P 500 and Dow Jones industrial average.