Can I put the Bridge Cache on the external hard drive for images being located there?

Hi,

I'm on a MacBook Pro retina.

While I have a 500 Gb hard drive, I notice that the Bridge CS 6 cache is getting larger quickly (looking forward to 1 Terabyte SSDs).

I have most of my images on external hard drives, but Bridge CS6's cache seems to be on my computer.

Can I store the Bridge cache locally?

So, if I have 1000 images on hard drive A, the cache for them would be on hard drive A.

And for 100 TIFFS on hard drive B, the cache would be on hard drive B.

And for the 100 most recent TIFFs I keep on my computer's hard drive, the Bridge cache would be on my computer.

It this what checking the box next to "Automatically Export Caches To Folders When Possible" does or am I misunderstanding this - and this option only puts  COPY of the cache files on the external hard drive, but the Bridge cache file on my computer still contains all the images, not matter on which hard drive they'd be?