Yes, that is the songsheet for these conditions but it requires a catalyst and enough demand to overwhelm supply when it joins in the party, as it will. In the current conditions I am not sure that there is enough sustainable interest (institutional) currently in the small caps to provide the necessary momentum when the catalyst comes along. Look at promising stocks like EDE, the picture is not dissimilar despite recent good announcements.
Still things can change quickly so we shall see....
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