tom: we are frille thrilled to g you chris verrone. trend based on the .elles wilder, bring up the chart. up we go. this is from the depression, back to the beginning of the last century. that is the trend, particularly big stocks, s&p and big stocks. you like the small caps now. why? >> when we look at the last several weeks, there's been a number of positives that have started to unfold. small caps, after deteriorating, start to turn. last week, we get all must have the russell 2000 making a one-month high. we of the momentum spark that argues for the trend. look to industrials as well. regional banks. the spark is there. these groups are ready to react celebrate. tom: you can say the reason for that spark is m&a activity echo minimal gdp and the urge to merge is there because you cannot find the growth anywhere else? >> when you look at what small caps have done over the last 6, 7, 8 weeks, as people got negative on the prospects for tax reform, small caps sold off to start the year. i think they're pricing and little upside. when w