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Let's kick Spring off with some news.....
I hope tomorrow looks something like this:
1. Fill the gap at .0161
2. Test and hold 1st resistance at .022
3. Re-test today's high of .03.
4. Bounce back off .022
5. Close between .026 and .027
I am likely dreaming, but wouldn't that make for a great trading day!
Thanks for the 19s!
Power hour in 3....2....1....
Picked up another 150k for the EOD run.
3 minutes, no trades. Everyone must be catching their breath or going to the bathroom. Don't wanna miss out on the last 2.5 hours of fun today!
CSTI keeps trying to do quick naked short trades. Lets burn his @ss!
Jumping the naked shorts IMO
Some lazy@ss parked the bus so they could go get lunch and not miss out.
Rinse. Repeat.
Buy the fear baby!!!
This needed to breathe for a bit. Looking for a leg up after lunch.
GVIT broke the 4s today! Zooming back up!
Amen to that!
NITE is really trying to control things here. That AH 40000 buy was mine. I slapped the ask at .004 and they gave it to me at .0039. Someone really wanted to keep the price from showing 004 overnight.
I'm bid supporting, someone slap those 4s!
Looks like shorts are getting out slowly today....
Today is still relatively low volume so it will be exciting to see what happens when we get back to 13M share days...
Agreed. Mine are all locked up so they will have to get them from someone else!
Would love it if this would test 41 and then close at 37 or above.
I wonder how many shares it will take to get NITE to let the lid off this thing. I would be happy with steady daily gains for a week or so.
IF 64 is all they are gonna walk it back to, there is a really good chance we retest 78. Especially is the ask is anywhere as close to as thin as it looks.
Here comes an attempt at a shake. Lets see if she holds.
Quiet lunchtime. No sell off. 66 holding. I think we get another run toward HOD and then settle back to close at 66.
This is so true. Both times I have flipped this today, the MMs filled my sell order as soon as I placed it even though it was .0002 above the ask.
Agreed. The bounce off 60 was a good sign. This is in total breakout mode so if this holds 78 then who knows where this will go too...
As long as this bounces off 58 we are good for another run to 78 today IMO
I have 1.5M for sale at .11. Hope that locks em up away from the shorties.
If I were in Elite's position, if the investment contract did not read otherwise, I would consider selling the Novel stake as an option to another pharma company like someone else here already mentioned. That would provide good negotiating leverage with Novel. Either way, I seriously doubt JT will rush into selling this asset as the upside appears to just keep getting better.
IMO it would be better for him to give the company another loan out of his own pocket if they needed the working capital short term to keep producing product, than it would be to sell too quickly just to raise some $$ quickly.
As anyone who has been watching Elite for any period of time knows by now, nothing is going to happen quickly, but what does happen will have substance and be of the most long term benefit to the company.
Thanks Couch, although I think you were a bit generous in your praise. I don't pretend to have all the answers or make anywhere even close to all the right decisions. Somehow I have muddled through to this point and hope to improve in my investing and trading skills. I love the markets, but as you know, they will never love you back.
They say the best kind of love is unrequited so I guess I have found something good... Best to all.
I am a long, but believe we all need to temper our expectations for the monetizing of Novel and what the company will do with the resultant cash.
If Elite gets $10M I would be thrilled. That would be a 3x return on a 4 year old investment. Not too shabby.
I also think that Elite will not pay of the NJEDA bond debt in full. A newly cash flow positive company will not sink a large lump sum into paying off that debt. As long as Elite is in compliance with the payment arrangement they made with New Jersey, then there is no need or hurry to pay off that debt.
I also think that Jerry will not call his loan due either. He will stretch out that investment he made in Elite over time and be happy with his 10%. The company will be able to move forward much better with $1M cash in the bank than it would to have that loan off the books.
IMO if they proceed with the monetization of Novel and get a lump sum, honestly, the only thing I would think they would use the cash for right now is R&D and clinical trials to produce future revenue streams which will take care of the debts over time.
now THAT is a bid. 3M shares on the bid.
I am assuming that the tech is going to work, obviously, that is why I am heavily invested. Once this is proven to work, I really think the investment community will jump on board. I don't think they will jump on board till this is over $1.50 per share though. I think once this tech gets monetized there will likely be a run to a buck. Then a ton of people will sell as they will have realized up to 10x gains in just a few years of buying and holding. If the price can hold above $1.50 per share with the current share structure, then the investment community will start dipping their toes in.
Common scenario in penny stocks- If .01 holds then it will go to .02. If .02 holds, then it will go to .05. If .05 holds, then it will go to .10 (This is the current range ELTP is in). If .10 holds, then it will test .20. If .20 holds, then it will test .50 and so on.
Don't think this is common or even possible? Do some DD and you will see it happens more often than you would think. I got into KV A after their approval for a first in class drug and rode it from $1.60 and got out at $11.50 (it ran to $14 before the FDA pulled the rug back out and it dropped)
This is not a get rich quick stock, but it IS a get rich stock. Patience will be rewarded heavily for those holding ELTP IMO.
I don't think we will see a run up in pps based on patent approval alone. The expectation this time will be that a partner will NOT be announced so the pps should not rise IMO. Further, as JT said, the investment community doesn't believe that the tech will do what they say it will, so until we get some test results, the pps will likely not be affected by patent news. This is good news for longs as I dont think we will see an artificial run up prior to patent approval PR followed by a a disappointing drop in pps.
I do, however, think that the balance sheet is actually what investors and traders alike will be trading in the near term. CFP and new revenue streams coming in will all be tradeable events.
I am just recycling small amounts of 23s today to try to get some volume going.
IMO the big ask on etrade looks like someone willing to play chicken. Risk/reward ratio way too high to try to flip some 9s right now. I dont think we see 7s again before a drug launch. I could of course be wrong, but I just dont think they will be able to pick up a million shares back in the 7s. Good luck to all, but I am holding strong here.
Added a few more here. Hard to know if I'm smart or just optimistic.
JT led the way with just over 277k shares, about 50% more than the other board members on average.
Looks like 8 people bought about $14,000 worth of stock each. Nearly $120,000 total. This looks like a pretty solid vote of confidence. Typically this time of year the members of the board have sold an equivalent amount in a planned sale, presumably in advance of tax day, but not this year. 1.5 Million shares to the hands of insiders seems pretty bullish to me,
Not giving up, rather I'm digging in. I do think we will see the 5s and 6s again eventually, it may just take a while.