Bounce-Time! Looks at IMGG, BMOD, and SOMX

If this isn't a breakout effort we're seeing from Somaxon Pharmaceuticals, Inc. (NASDAQ:SOMX), then I don't know what is. This small cap has already poked through a couple of resistance lines (blue), and is en route to punch through the only remaining resistance level..... the 20-day line (black ) at $5.06. And, it's close.

The only potential pitfall I see with SOMX is the lack of volume we've seen behind the recent rally effort - that may become an evident problem soon. Still, I think the uptrend Somaxon Pharmaceuticals has been brewing needs to be put on your radar. Anything above $5.06 is a buy.

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It was only a few days ago I mentioned that Imaging3, Inc. (OTC:IMGG) was trying to pull out of a long slump, and rekindle its long-forgotten uptrend. The key to such a revival would be getting above the horizontal resistance line at $0.42.

Care to guess where Imaging3 is trading right now? At $0.44. In fact, IMGG has been holding above that line for the last three days. It's almost perfect. As long as this small cap holds the line at $0.42, it can stew here all it wants... I think the heavy lifting has already been done.

And finally, though it was only yesterday I mentioned that Biomoda, Inc. (OTC:BMOD) was on the verge of a breakout, enough has happened since then to merit an update.

What happened? The breakout. This small cap - at the time - was only knocking on the door of resistance at $0.19 (orange). A few hours later, it was above it. Better still, Biomoda reached as high as the next ceiling at $0.23 before peeling back a little today. The bullish damage has been done though, especially considering the strong volume behind the move. The next hurdle is $0.23, but I don't think that's going to be a problem.

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