Elite Pharmaceuticals Inc (ELTP)

[Dante Fantasia]

Yesterday it was traders taking quick profits and moving on. Today, with about 1.7m over normal volume, the MM drops by .03, when most of the year kept swings to like .003 and such. Today, some weak hands selling out and taking low prices...the fear of a CRL. Truth is, a CRL is one of many possibilities, some very good, the CRL the worst. Only one drug from yesterday posted by FDA up until now.

Who knows whats going on behind closed doors. NH keeps secrets. Could be hammering away at the final wording of the label. Our data were so strong, hard to see what to reject on, but nothing impossible. The auto-assumption that w/o news in the am, and till now, must be "bad." Possibly, or possibly not. But this volume suggests nothing has "leaked" and those with aversion to risk selling some positions, allowing the MM raking them over the coals.

At this point, all up for grabs. But claims that panic selling over inside information that has leaked is absurd.