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What a great first post! Keep them coming!
I have no excuse. I first bought 15 months ago. Hopefully there will be something nice in my inbox tomorrow.
I am not sure what rock I have been living under lately, but I just saw that you can sign up for email alerts from Elite. Go to http://www.elitepharma.com/e_mail_alerts.asp and sign up. The first alert is likely to be pretty exciting!
More manipulation. Just when it looked like we were going to break .17, we get a 400 Mm signal to keep trading it sideways. And then another 50k shows up on the ask at .169. Well no matter, we just printed .17!
Is 666 an MM code? Interesting that right after the 666 share print that NITE was completely taken out with just two more buys.
the wall is down! Let's see if we test .17 today....
I would not be surprised to see NITE put up another one. By some people's estimates NITE has about 7 million naked short shares to cover.
Nice 300k buy. We might get this parked bus to move after all!
$ ELTP is going to be huge this week, month and year. They are receiving a game changing patent for an abuse resistant form for OxyContin. The US patent office has awarded this patent with an effective date of May 22nd. Look it up on the USPTO Pair Portal website under application #12/478,952. You will not be disappointed. With the effective date of Tuesday, tomorrow is the last day to get in before this hits the news outlets.
$ELTP follow link from the original post. this one is for real. No pump, no dump. This company is on the brink of a huge breakout because of a game changing patent that it going to be awarded on Tuesday.
If you look up the patent application on the uspto web site, it expressly states that 5-22-12 is the date the patent will be granted. App number 12/478,952.
I have been searching other pharmaceutical patents recently and have found that many companies are doing their PRs when they get the Notice of Allowance from the USPTO. I for one am glad that Elite is waiting until they have the patent officially granted before they make any announcement. This leads me to believe that there will be something in the PR in regards to their plans to monetize the product from the patent whether it is the beginning of phase III or partner, etc.
I am no longer speculating on ELTP, I am INVESTED! Both my long term shares and short term shares are locked up to at least $1.
Agreed. Technical traders and speculators will get the run started, but fundamental traders won't jump in until after the 10-Q showing a profit gets released. That is when the real fun will start IMO.
I am in the position now, where I will not flip anymore shares. I may accumulate more if we get a good dip, but I like my position as it is. I won't trade my dimes until they are worth dollars.
And this move to .169 has been on relatively light volume. When we get big interest again, we will see 30M volume days. Been in ELTP for 16 months now and have never been more confident about my position.
Agreed. next resistance point will be .19, then .26 after that. Could you imagine if we could take out .26 before the PR next week? A major PR in a blue sky breakout zone would be a lot of fun.
I have been google searching to find an equivalent situation to the one we have with this patent being granted to see what the historical precedent is for a move in pps with the announcement of a new patent. So many patents are granted in pharma that don't lead to new drugs, but this one is definitely a marketable and profitable potential product. Has anyone else come across a similar case that could be compared or contrasted to Eli 216?
Hold on folks! MMs and insiders trying to shake and bake to reload for tomorrow. Don't let have your shares!
Rinse, repeat at .0025.
I sold my 1M shares at .0032 for a quick 33% gain. This could go either way, but without news I think we can all reload in the low .002s this week or next.
Today's MM manipulation moment came at about 11:45 EST when there was a 200 share buy, signaling that a MM needed shares. Usually a 200 share buy means I need shares but don't take the stock down, however, with all the covering the shorts need to do, I am not the least bit surprised that we are seeing .14s today. The MMs just had to see where the next level of sellers was, and apparently it was .16 to .162.
Next technical hurdle looks like .19. It would be amazing if we could get there before the patent PR.
Looks like .16 is next up!
I have been long for over a year now and share the same excited sentiments for the future. I just wonder whether the patent news will be enough to drive up the pps to $1 or whether we will have to wait for Phase III to be complete and receive FDA approval for the share price to spike. Either way, I can wait. I am so glad to be in ELTP!
Guys, this is a sub penny stock with as much potential downside as upside. With that said, this company is working behind the scenes to increase shareholder value and can't PR everything they are trying to accomplish. When a deal goes through, I am reasonably confident we see a penny in the near future. On the flip side, if nothing goes through, I feel they will likely have to do a R/S to attract new investors at a higher pps. This is sub penny land so it is definitely not investing but speculating. GLTA, I am long with a million shares.
Grabbed 200k more shares this morning! Locked and loaded!
I will be buying more tomorrow....
Drives me nuts too because I was sitting on the bid most of the afternoon with a 100k bid at .132 that didn't get filled with that dump at close.
I was concerned about dilution with a possible new strategic alliance, so I sold half of my shares between .135 and .14 hoping to buy back in the .11s next week. Hope I am wrong, but I think we see .11s and maybe .10s before we get the patent pr later next month.
What was today's short interest?
For one print I was a gazillionaire!!
If we break .14, next technical leg up is .19. It would be amazing if we got there w/o news. Then I think with news we could make the next resistance point of .26. We break .26 then it is blue sky from there. Holding my shares tight.
Patent status update
4/16/2012 Publications -- Issue Fee Payment Verified
Looks like the check cleared, so maybe now we get a PR.
Go ELTP!
Elite has now everything necessary to get the patent awarded. PR could one any time now.
I don't see too many 100 shares trades on this stock. I think it has to be worth it to the MMs to take the trade, and I think it would take at least 5k to 10k shares to do it. If you look at the first trades of the day they are almost always 10k shares. This morning I think it was 10k shares at .11. JMHO.
If anyone wants to volunteer to get it over with, just put in a stop loss order for 1000 shares at .10 and that gap will fill tomorrow morning.
While it is true that not ALL gaps fill, they have all filled so far with ELTP. It is a barrier to entry for many. With that said, I do not think that any of us will get shares at the gap (between .10 and .102), but rather an MM will get them at the open. That seems to be when the low of the day has been occurring lately.
Lets hope it does tomorrow morning at the open. That would set us up great for next week.
The more I think about this, I do not see a scenario where Elite sells the company, merges or any other change in operations until it is listed on the Big Boards. It has been their stated goal since Treppel took over.
Now, how do the BOD of Elite and Epic get compensated? In stock. Does it make sense for them to sell the company for pennies per share to the first bidder? No way. The way these folks are going to cash in is when the stock price gets up into multi dollar range. Look at the ages of the insiders that hold a lot of shares. Most are older 50s and 60s. They have been working hard at getting Elite profitable, get products to market and get patents completed. I just don't see a buyout that makes sense with the pipeline and current products and patents unless it is for mutli dollars per share. Treppel and co have worked to hard over the years to cash out anything under 8 figures each.
This is all JMHO of course. Go ELTP!