[MannyPR]

Just type opera:config on the browser address bar and that will open the opera configuration mode and there you can change many settings including cache location. I have it on my internal storage and is working fine. I also increased the Max Connections, Total Connections and network buffer size in the performace area and it really improved the performance on content heavy pages.

I set the max connections to 8, max connections total to 20 and network buffer size to 32 if anyone wants to try those settings.