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Oh yeah, Can't Touch This!! I will get out my baggy pants for next week.
They are very unlikely to be published on March 31st. It is more likely that it will take at least two weeks or more before they get released. Still, it is exciting that they are interested in releasing them so soon.
This would be the perfect price (.045) for this to close today. Let's see what happens...
It has to close above at least 42 today for that to happen, but as of now that is looking more likely!
I know it can be painful to watch at times, but people, this is one seriously SEXY chart. If this closes 42 or above, we retest highs early next week. If this closes 52 or above AND there is some good news next week, this tests a dime.
Over reaction is what I count on as a trader. Like shooting fish in a barrell.....
A close of .042 or above would be a very bullish sign. A close above .052 today and this rockets to new high Monday or Tuesday.
My favorite part of this bounce? No fluff PR put out to try to stop the bleeding. Yet another sign this is no pump n dump.
Uptrend confirmed on 60 min chart. This is going to test highs next week. Congrats to all those who either bought in the 3s or had the guts to hold.
Agreed. This needs a little push to get going. I'll get out and push if you will steer....
I got a lot sunk into this baby too. I'm not gonna look at this for a week or so just so I don't go nuts and do something stupid like sell for a loss. This is going back up folks.
30 min chart needs to close above 37 and 60 min chart needs to close above 38 and then the reversal can be confirmed.
I really hope I'm wrong about testing .022. Price action the past couple minutes looks like maybe .0302 is going to be the low, but it is still too early to tell.
Crap. This looks like it is going to test .022. I'm still holding.
I put my beginning point at .005. But either way, this has tested that level. If that level gets strongly rejected, i.e. a close today above .051, then I think we soar early next week. If it churns around this level for another few days, then it will be a more steady climb back to old highs.
agreed. This retesting of this level just strengthens any upward trend.
Precisely! I have the golden ratio measured at .332. We will probably test that in the next few minutes. If that holds then it is back to 42 and then 51.
Early morning headfake. Can't believe how many people fall for it.
Oh good. Glad you saw the form 4s. Exciting isn't it?!
Here is some basic information on warrants and how they work. Hope this helps.
http://en.wikipedia.org/wiki/Warrant_(finance)
Yes. Really. It says it right on the Form 4s. Table II, box 1 (Title of derivative security). You can check it out right here:
http://www.sec.gov/cgi-bin/browse-edgar?company=&match=&CIK=eltp&filenum=&State=&Country=&SIC=&owner=include&Find=Find+Companies&action=getcompany
I feel it is time for a little Jerry Treppel hero worship. I was thinking about what a daunting task he assumed several years back to turn around, quite frankly, a terribly run company with an exceptional intellectual property and meager revenue streams.
Soldiering through the rough times of having Lodrane pulled from the shelves, a snails paced FDA approval process, and the pursuance of patents for their intellectual property, must have seemed like extreme tedium for a man of his training and background. Most investment banker types don't root for the underdog. Most investors and even speculators don't root for the underdog either for that matter.
What makes Elite special is that by all accounts, this is a company that should have never made it, but yet, against the odds is now on the brink of something really special. Sure, cash flow positive is great, the launch of more meds to fight obesity is respectable.
But what I am most impressed with is the dedication and determination which Treppel and company have to making a difference in society and leaving a legacy for future generations that hopefully will not have to endure the heartache and pain that comes with substance addiction.
I don't know Treppel's motivation for trying so hard to get this intellectual property to market. Money? Sure, probably a little bit. But there are many, many easier and more lucrative ways to make a buck.
For me, it comes down to passion. It takes real passion to get something like the Abuse Resistant Technology to market. What fuels this passion? Why would he put up $1M of his own money to try to make this a reality? He says he took over Elite to protect his investment. I have always assumed this was financial in nature.
But what if it isn't?
What if the driving force behind this passion is that someone close to him has had a history of drug abuse? Wouldn't you do everything in your power to help that individual? Wouldn't you want to spare other families and friends the same pain and heartache that come with addictions? I would.
Now I am definitely NOT saying that this is HIS motivating force. Of course I could never know that. Never met the guy or talked to him. I just know that their is something deeper there than just trying to make a buck or be "the guy" who helped combat opioid addiction in a real way.
He has had to fight different and seemingly unrelated battles to keep the war on opioid abuse ongoing. Most recently I think of the speedy resolution to the phentermine active ingredient battle.
This was resolved so much faster than I ever believed possible. With the recent approval of Qysmia to a Billion dollar market cap company (Vivus) there was a lot at stake in the business of pharmacy world.
The makers of Qysmia had every right to fight for their new product, which contains phentermine, and would have employed every means necessary to protect their investment. I am sure there were many, many behind the scenes battles waged over the supply of the active ingredient.
Yet once again, Treppel was able to convince the supplier of the active ingredient, that little ole Elite was an account that the supplier would benefit greatly from having. Treppel even ponied up his own cash to make it happen.
I don't invest often. Honestly, when it comes to the market, I am a day trader. I am in and out of stocks in a matter of minutes to hours. But I have parked a LOT of cash in ELTP for over two years now because I believe this is an investment worth having. I also have a passion for the intellectual property that Elite is trying to get to market. I prescribe opioids as part of my dental practice and I have seen first hand the devastating effects that can occur when these meds are abused.
I have received more phone calls from junkies looking for a prescription on my emergency line that I care to count. One of my 16 year old patients was arrested for being the get away driver in a Rite Aid pharmacy oxycontin armed robbery. I have seen many patients who have been through rehab and substance abuse counseling, some of whom stick with the program, while, sadly, others fall right back off the wagon.
The reason I am invested in Elite is that scientifically, sociologically, and financially, I am speculating that Elite is going to make a difference. They are not going to save the world or put their product in every household in America, but they are going to make a difference in what has become a great plague in our society.
And Jerry Treppel's passion, tenacity and expertise are going to get them there.
As DrugDoctor alluded, this is likely part of the agreement with Epic coming to fruition with the imminent launch of new dosage forms of phentermine.
They were the conversion of warrants by Ram Potti, Jeenarine Narine, and Ashok Nigalaye. This was done on Monday and reported today. Between the three they acquired about 8.5 Million shares. These are Epic insiders that are also Elite insiders that are converting their shares. I believe this is all pre approved compensation for these board members.
amen
Nothing wrong with a 10% gain! Rinse and repeat and that turns into much more. I'm gonna hold for the retest of the highs.
I've got all I'm gonna get. I won't be hitting the exits until this tests a penny again. May take awhile, but I got time.
As long as this churns today and tomorrow around the nickel level we are good. Notice that there were 3 days of churning at the last important level of .02. I would expect that if this were reach a dime some time in the next couple of weeks that it will churn for 2-3 days at that level as well before the market decides what direction this stock will go.
I think this consolidation and strengthening at this level is extremely vital to the long term stability of this stock.
if it follows previous chart pattern we should see at least 075 tomorrow
I am a bag holder here too. I got in on the pump. I believed the charts, but now know it was a total set up. Honestly, this will take another pump for me to sell. This may be dead money for a while, but I do think that 0023 was the bottom.
Thanks Couch! I appreciate all you do for this forum!
Thanks lasers. Been here a couple of years and have appreciated the knowledge and information that so many of you have put out there regarding Elite. This really is a great forum to discuss facts and ideas. I try to keep it real as far as expectations go and appreciate the DD that gets presented here.
It is hard to use Fibonacci retracements with a real degree of accuracy on a stock with such a short trading history, however, the .057 level is exactly the 38.2 retracement level from the breakout that started at .02. A close at or above .057 today all but guarantees SKTO will retest the high of .08 and possibly beyond tomorrow. Hold on to your shares! They will be worth a lot more tomorrow!
Dear everyone who wants this stock to go up,
Please sell at the ask, not at the bid. This will drive the price up.
Thank you :)
If the pattern holds, we would test a dime tomorrow.
lets go skto
As long as this daily higher low of .055 holds, I think this will likely then test the 65 region which is where I am guessing this will close today. My crystal ball has been a little on the fritz lately, but hopefully this is how the day ends up.
Those 63s looks juicy. so tempting.....
If you have any dry powder, set it off at 61. I don't think you will see anything lower than that again today. Could be wrong, but I think this is the last dip before the retest of 75 today.
Absolutley. This tested an important level, .065 three times today and it held. Next level to test is .075. Back up the truck and load it with shares. It is going up from here.