Elite Pharmaceuticals Inc (ELTP)

[Dante Fantasia]

All this talk of the "PPS falling." I am by no means one of the chartists on the board, but don't need to be to see we've been trading both tightly and steady in the .24-.26 range for a while now. Low volume as real money is waiting on real news updates.

Regardless of pure technicals, and in the absence of news, the market has been increasingly volatile, and biotech as a whole is a sector many see as getting fluffy. Today the Dow takes a 300 pt. dump, the Naz down by 2.5%, and many good/medium-big bios I watch hit hard too. Lot's of blood in the street. While I'd say the correlation with the market has generally been weak, we're not immune from taking a hit on such days along with most of the rest. This is especially true given until actual approval and sitting on the OTC we will be considered "speculative" and thus more sensitive to investor insecurity.

As an Investor (as opposed to trader), whether we closed as we did at .23 or if up to .28, makes no difference to me, as wouldn't have sold if it went either way, with the only exception being a drop due to a news-related event. Flippers/traders/MM's will all play some angles to generate something off days like today; those with a horizon of a year or so should sleep soundly as until real results/action, the sp is simply noise.