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Increasing volume in a down move is a terrible technical sign. The price action is signaling more bad news to come.
Well you just had a press conference where it was pretty ho hum with little new information. In that setting I would be expecting more selling not tons of buying. In that way, not bad.
What’s the background on this? If it was 12 bid, sure it would jump, but it’s 12 offer, exactly where it finished, why the gap?
Manipulators are one thing, momentum traders (which are the ones who ran up to .97) are another. Momentum traders will focus on ANY stock they think they can move, period.
Like I have said a hundred times. There is no market maker alive or set of them who can stop trading on real news (like an approval of sequestox). Market makers are short term guys, not guys will to step in front of a train.
But it sounds good right? Anything to pump it up..lol. First approval comes and it can’t hold .10 cents.
Well stocks trade on future expectations, so I’m not sure why it would hard to care about an event paving the way for that future.
Lol of course there are
A 12 to 1 sell to buy ratio today. Not exactly the breathe most are hoping for. I’ll ask again, where are the buyers, all I see is selling
That’s the problem again no one wants to address. There was one token buy for 1k shares in that last hour and 350k or so shares dumped. Why are people dumping shares if the news is that good? Where are the buyers?
You mean like buying low at .35 and watching it collapse?
With reverse splits galore
Maybe initially but most of the posters on this board talked about buying the dips on the way up, especially before last July. Many here were saying .35 cents was a great buy.
Many Longs here talk with such conviction that the only direction is up, but ELTP has time and time again that is anything but a certainty or even likely. The stock couldn’t even hold 10 cents on the run up.
I just hope to see volume return, at least it becomes tradeable again.
How many people bought under .06 as only 1k shares were traded. If you haven’t been trading ELTP, you’ve highly likely set up way underwater. It wasn’t a good investment that made money, it was manipulated up to .94 momentum traders. The .056 cents is a complete false bottom.
Technical traders need liquidity to move in and out of positions. Elite is not a stock that trades actively enough and the spreads can be hugely overblown for it to a good technical trading target.
It’s simply how market makers in a tiny illiquid stock work. They can widen a spread, they can narrow a spread, or move things around easily. It’s not so much stop losses it’s that ELTP is illiquid for any decent position unless news is out. It’s just a normal trading day on the OTC.
Almost a 10 to 1 sells to buy ratio. Sounds like a stock primed for buyout/approvals/whatever other baseless good news you want to come up with
Same BS as approval was sequestox was a slam dunk last year and still nothing. Same BS as generics are breadcrumbs and suddenly now they are huge. Today is a good example, next to no one is buying this company it’s been slanted the sell side for a year and still is today.
Didn’t last. Another day it failed to close over 8 cents
80% drop so far. That’s what those got you. Funny you would ignore that monster drop.
Which we heard 9 months ago.
I love the all obvious and simple as the stock price crashes. Apparently it’s not obvious and simple to most. This is the stuff we heard before last July. It was obvious and simple for approval, until it wasnt
With elite shareholders have been given a reason to be skeptical when it comes to some of the things Nasrat has said and I think that is what is happening here. I think this is more directly related to Elite, though you may be correct overall on the OTC. I think we both agree Elite needs some approvals to change perception, because the warning letter, multiple CRLs and amateur accounting have put it in a bad light at the moment. Nasrat said nothing will stop elite, it’s year 5, time to prove it with more than cheap talk.
So your saying people don’t trust this management and need to see results first?
Maybe mid way through that’s the case but days later no buyers on what most class a strong CC signals something is awry
No when “great” news comes out, there is supposed to be buying. The CC was a complete dud from the perspective of getting people to buy. Since volume isn’t high, people pretty much have turned apathetic. Even you know it’s a bad sign that days later the stock price is exactly where it was before the CC, near the very bottom.
Other way around. Great news supposedly and absolutely no one cares. That’s a problem, buyers are nowhere
Lol ok. Since I’m not the market maker, you know I can’t. You also know it was 1 trade, and you are trying to distort what happened. It was there for a second. Nice try
Sure, it’s called putting in a market order. Somebody put in a market order idiotically for a penny stock. You make it seem like it was there for a bit, it wasn’t, it was one trade. Anyone with half a clue knows you never put in a market order on a penny stock, especially when it’s moving against you.
Deferred revenue isn’t a tough concept and anyone who has taken more than 1 accounting class would learn it.
It’s the boogie man. When price in these small company stocks fall its naked shorts or the MMs pushing it. It always ends up full of shit. Anytime you hear someone talk massive covering of naked short shares it’s 100% wrong, every time.
Or get someone to pay the offer. Usually they make it a tight spread as well. 666666 vs 10000 shares, offer paid, bid disappears
Now it’s 666666 at .779 and that bid isn’t real either
Those big bids and offers are almost always fake in these illiquid stocks. Preying on the easily fooled
Hmmm, yeah why is that. Maybe the market is just a bunch of clueless fools who don’t understand all the great things happening. Or maybe they understand much better than this board
Simply making a statement like that is the dumbest thing any CEO could ever do, especially dealing with the FDA.
Nothing but speculation again
It went to .98 on pure stock manipulation. Is that planned again?
So was .10 and .20 and...well you know