The new ELTP buying has been there for the past 2 months focusing on the ELI-216 Patent Grant 8,182,836 issued May 22, 2012. Longs have added a conservative estimated 10 mil ELTP shares, and as high as 15 mil ELTP shares, to their portfolio.
The question now is will the MMs stop their Naked Shorting to hold the ELTP PPS down or will they finally buy-to-cover from the open market and allow the ELTP PPS to rise.
The MMs (moles) have been waiting to read the ELTP 10-K which now they obviously have. A bullish ELTP 10-K means that the MMs can no longer wait as new buyers will flood the ELTP buy transactions next week when the news becomes public. The MMs must buy-to-cover ELTP on the open market for the next 3 days before the ELTP 10-K data release on Tues July 3. 10 am.
