I think your point is valid. The spec market is a different...

I think your point is valid. The spec market is a different place. The punters are wary and the appetite for risk is low. In this environment, I expect that there will be significant medium term rewards for stocks that are becoming partly derisked such as those companies that are starting to show revenue increases (derisked a little) / or profit (derisked a lot) increases. I also think that the rise will be more rapid for stocks at these stages as speculation doesn't really seem to be factored into the SP prior to that in the current market. The market does not seem to be able to discriminate those that are not going anywhere from those that are set to fly. So I see many more multibaggers coming up in 2018/2019.