Good morning!

I'm trying to type this standing up, as I read an article saying that it's unhealthy to work at a desk sitting down all day. Seeing as that is how I've spent most of my waking hours over the last 25 years, then maybe it's time for a change. So I've bought a VariDesk, and it's really very good - you can alternate between standing & sitting, by raising or lowering a platform that sits on your desk & carries your screen(s) and keyboard. Although after an hour standing up, I've already got aching feet & back!

CNBC noted this morning that "the market only seems to be able to focus on one issue at a time" - i.e. Greece/Euro, China, Fed tightening, etc. I think the reality is that commentators are only able to focus on one issue at a time! The market takes everything into account, which is why moves are so unpredictable.

It's non-farm payrolls day in the US apparently, so that might drive volatility this afternoon possibly, as a widely-followed economic indicator. Although I'm paying less attention to short term volatility now - it seems to be something we just have to live with - and instead concentrating my attention on forthcoming trading updates and interim results in Sept.

With small caps, it's too expensive to be dipping in and out, as the spreads are too wide. That's why I focus more on large caps, if I want to actively trade things, especially when gearing is involved. With small caps I think it's best to do your research properly, take a position, and then stick with it, providing the long-term fundamentals remain sound.

Even when things go wrong, which they frequently do with small caps, good companies with sound Balance Sheets tend to recover from profit warnings. Two of my best performing shares this year (SAL and FLYB) were my worst last year. By sitting tight, and ignoring all the doom & gloom, and instead focusing on the fundamentals, losses have been largely recouped. I am hopeful that ENTU might pan out in much the same way, as it looks like a similar baby & bathwater situation at the moment, but time will tell on that.

Bioventix (LON:BVXP)

Share price: 1090p (up 17% this morning)
No. shares: 5.05m
Market cap: £55.0m

Trading update - well done to holders here. It's…

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