Forget about overwhelmingly random stock market noise and small daily percentage moves exemplified by the likes of all the most popular names such as Yahoo! Inc (Nasdaq: YHOO), Citigroup Inc (NYSE: C), Pfizer Inc (NYSE: PFE), Google Inc (Nasdaq: GOOG) and Apple Inc (Nasdaq: AAPL). Don't be fooled by the all-too-frequent daily commentary-those stocks are really only good for long-term investors and the few truly professional traders out there.

If you're neither, focus more on market inefficiencies because not only are they more predictable, but they're ideal for smaller investors and traders thanks to their illiquidity. Meaning the market offers up these high profit probability opportunities that the big boys can't and won't take advantage of-they're strictly for us little guys.

I'm talking about price moves created by the quirks of the finance industry itself-namely the media circus, stock promoters and hype that influence the great derided microcap market. For example, when a CNBC reporter inadvertently suckers amateurs by pumping a penny stock (good short selling opportunity as the stock is now down 50% in a month) or when a stock promoter is paid to hype a stock (another one down 50%+ in one month since).Right now there are several tiny stocks being promoted, but I won't even mention them because their promoters haven't done a good enough job of pumping their prices high enough to make them worthwhile shorts. Surging commodity prices have done an infinitely better job helping push microcaps like Mexco Energy Corp (AMEX: MXC), Pyramid Oil Co (AMEX: PDO), China Precisions Steel Inc (Nasdaq: CPSL), Cardero Resource Corp (AMEX: CDY), Solarfun Power Holdings (Nasdaq: SOLF) and Fieldpoint Petroleum Corp (AMEX: FPP) up exponentially.

Unfortunately, instead of learning the catalysts for such surges, many wannabe technical analysts / traders only look at the charts-and considering the speed and strength of these run-ups-many short these stocks too early, inevitably helping to create mammoth short squeezes. Just ask those who shorted Pyramid Oil after its 2-week run-up from $4 to $10, now $16!

Each day on my blog, I cover these kinds of exponential movers and the most important lesson I can teach is that hype pushes these stocks further than anyone expects. I assure you these stocks will crumble-as the vast majority of surging microcaps inevitably do (see some historical examples HERE)-but considering many of these latest runups are due to solid earnings reports, do not mistake them for pump-and-dumps that can collapse within hours or days.

For now, let these kids play-some are even good to play form the long side, if you're willing to take on that kind of risk (not me!). Call them in from recess-or short sell them-only when it begins to get dark outside-meaning when commodity prices aren't in such an overwhelmingly bullish uptrend.

Timothy Sykes writes the blog timothysykes.com, is a former hedge fund manager, star of the TV show Wall Street Warriors and author of the book, An American Hedge Fund: How I Made $2 Million as a Stock Operator & Created a Hedge Fund.