Thread: SOMX - Somaxon Pharmaceuticals, Inc.

I think the stock will continue to slowly go down from now on, without any major news, I missed it, I am not getting in until I see some sort of accumulation. If they want to market the drug on their own, their cash on hand is not going to cut it. more dilution? maybe.

And the whole market took an about turn Friday, everyone was anticipating a correction for at least 2 months and now they have got fuel for that fire......JMHO

Hey Matx, where you think SOMX would arrive in downtrend?

Dar

Good article on SOMX

Somaxon, soon a buy-out target? - struftepete -- Seeking Alpha

hehe, if I knew that, I would have my porsche parked outside.......no idea. But, if you believe in technical analysis, you might look at the previous support levels - 6.22, 4.73, 4.19, 2.52, 1.42, 0.93
and the resistances - 11.56, 9.65, 8.88, 8.11, 7.51

Originally Posted by matx

I think the stock will continue to slowly go down from now on, without any major news, I missed it, I am not getting in until I see some sort of accumulation. If they want to market the drug on their own, their cash on hand is not going to cut it. more dilution? maybe.

And the whole market took an about turn Friday, everyone was anticipating a correction for at least 2 months and now they have got fuel for that fire......JMHO

I think you are right, we will continue to see a bearish trend with no new news. However, staying on the sidelines, you run the risk of not being on board if/when a buyout comes. I reccomend taking the small loss you may incur waiting for the buyout than chancing missing the boat when it's too late. The upside is exponential. Some estimates are $20-$40 during a buyout!

SOMX was a good play got in Dec 4th when it tanked... not a long wait for it to get approved. Too bad its tracing back to preapproval pricing. I should have sold when it went over ten dollars. Could be a good hold once they start generating revenue.