10baggerbamm : actually Tom Lee said a 40% gain in the Russell by the end of the year by the end of the Summers where his exact words. the problem is small caps need two things lower rates and a strong economy and now there's a fear we're going to go into a recession that chairman Powell has lost control that he missed the opportunity to cut and you're going to find out today unemployment and if unemployment is 4.2 we're fucked because even though he could cut today at any point in time he's going to wait till September because he's data dependent. a half point cut will not help any small caps you need minimum 150 basis points to 200 basis points that puts his second half of next year best case scenario to get there so that these companies can refinance at lower debt because they're paying $12 to 14% interest right now on borrowed money so a half point cut saves them zero. furthermore in the past 4 years the Russell as a basket has had declining earnings so right now you just had a multiple expansion based off of the ideal scenario rates are going to come down money is cheap and this basket rallies except there's two negatives which I've outlined here why it's not going to be a 40% game and I will tell you this when the market tanks in tech people are not buying Russell stocks