As I sit here at my desk with flu like symptoms looking like I’m ready for a Nyquil commercial, at least micro caps seem be finally showing signs of recovery after a brutal second half of 2011. Many of the micro caps I follow have seen significant bounces off their lows of mid-December. Here is the 6-month chart of the Russell MicroCap Index. Microcap stocks make up less than 3% of the US equity market (by market cap). The Russell Micro Cap Index represents the smallest 1000 securities in the Russell 2000 index.