If you want to make your hunt for trade-worthy small cap stocks at least a little easier today, allow me to point you to BSD Medical Corporation (NASDAQ: BSDM), VirnetX Holding Corporation (AMEX: VHC), and Celsion Corporation (NASDAQ: CLSN). For whatever reason, not only have these three names captured the hearts and minds of traders, but their charts have taken on some curious shapes…. for better or worse.

Take VirnetX Holding Corporation… the only bearish name in this batch of three. Now, I know what you’re thinking – VHC is a freakin’ bullish momentum rocket, and you’d be nuts to step in front of it. The first part is true, and the second part is kinda’ true. There’s a reality here, however, that can’t be ignored forever.

What’s that? VirnetX Holding Corporation’s market cap is $1.6 billion, and it did about $17K in revenue last quarter. Yeah, yeah – I get that you own a stock for where it’s going and not for where it is, but that kind of valuation barely even flies with biotech stocks…VHC is a security software company that potential buyers don’t absolutely have to utilize. Even if they did, it’s going to take massive revenue to justify that market cap.

Were it me, I’d be ready and willing to bail out of VHC at the very first sign of a key reversal bar; volume’s been quite lacking on this most recent push to new highs.

Celsion Corporation is on the other end of the spectrum of small cap stocks…. the bullish end. I actually looked at this setup a few days ago, but it bears a refresh now since CLSN has moved within striking distance of the brewing breakout.

This one’s actually real simple. A falling resistance line (blue) at $3.43 is either going to cap the rally (again), or it’s going to be the beginning of a monster move after a two month consolidation for Celsion shares. Notice how volume is growing – not fading – on the way up. CLSN has also made a string of higher lows over the past three months. I think this is a case where we need to listen to what the market is telling us before the bulls are unleashed at $3.43. (This is also a good case for a ‘buy stop’ order.)

Last but certainly not least, the second of the two bullish small cap stocks to be on the lookout for today is BSD Medical Corporation. This one’s a real rebound story. BSDM looked like it was headed for its grave in May, having fallen under not only a key horizontal support level at $3.61, but also its 200-day moving average line. In the meantime, it’s back above the 200-day line (green), as well as back above a long-standing falling resistance line (blue). It is what it is. Nine times out of ten you’re better off not trying to make it more or less than what it is.

On a bit of a side note, unlike VirnetX, BSD Medical Corporation is in a space that has a history of doling out long-term reward on mere premise…. cancer treatments. There are no profits in sight, and revenues have actually been shrinking. The company’s made good strides of late though, and better still, is touting them. BSDM shares have responded too, and have a history of nice rallies once they get going. (See 2010.)