I trying out bitcoinica with a bit of money I'm willing to loose for the entertainment value.

The market moved in my favour for five or ten minutes. The spread on bitcoinica widened to $0.4 so the profit available to me was not as much as I expected. I could leave a limit order on bitcoinica and have the mtgox price swing 5% or more past it and not get my order executed.
It's an extra risk I wasn't totally aware of.

Bitcoinica is badly documented. For example I can't find any official explanation of the * that sometimes appears next to buy or sell when the market moves.
Seems to mean no liquidity, you won't get an order executed right this moment?

Bitcoinica does not full details of company registration or office address. The domain uses a whois privacy service. It is possible they could just dissapear.

I think I am playing with fire. It's fun but if I'm drunk, tired or impetuous I'm going to get burned.