Elite Pharmaceuticals Inc (ELTP)

[Investormax2009]

Early Morning MM were making buyers chase it. I tried buying 50k more but every time I would place teh buy on ETRD they would jump over me and price would jump 1 to 1.5c. So I pulled the order and in the last hour was able to grab the 50k in smaller lots. It acts as if it is a coiled spring right now. Almost no vol compared to previous 3 days but I get the impression the MM want it to run. I see accumulation right now, and yesterdays close was strong considering we almost did 10MM shares and price held. Big churn and higher levels of support.
I expected a 50% correction after the near term run - but am not convinced we will see that. Also, the price traditionally rises into the CC and then corrects. I wonder if we will see that this time. If I was a betting man (which I am) I say the odds are in favor of a higher price after the CC. The news catalyst with pending FDA filing and potentially a 6 month approval in 2016 lines up some great action.
Very Thankful to still be here and able to add. Max