Yup that’s right. Lately I have been a holder of a good chunk of those small caps. It requires a ridiculous amount of patience for them to move but when they do, boy can they actually move in an orderly fashion.

Take for example CHTP, I’ve been long for about 6 days already but has been a relatively easy hold. It doesn’t really trade actively (thanks GS for not cluttering this stock with your silliness) but when it does the volume is very readable.

The one issue with these types of plays is dealing with the risk overnight. Obviously some additional rules must be put in place. For me, I refuse to take biotechs higher than $3 on the long side and refuse to take anything on the short side. I can come back from a $3 loss on a few thousand shares mentally but certainly not gonna be part of the group of guys still licking their wounds from a nonsense move like that in MDVN recently.

Keeping an eye on the casinos tomorrow. LVS looks ready to party! Holds above 20 tomorrow will get me very interested. Bella and Spencer are already monkey long MGM and gmonkey will be in there tomorrow.

Happy early St. Pats. Off to get some car bombs? giddy up