Elite Pharmaceuticals Inc (ELTP)

[imanjen13]

Trading action, or lack thereof, on low volume appears to be MMs F'ing around. The first move up on decent volume was lead by a new MM ASCM who is now off the screen. This is often called the Move before the Move as people who know more than the average Joe take a position for a future event they know or expect to be announced.

Watch for volume increase as a harbinger of the next plateau which should put the stock in the 9-12 cent range.

Now that the CFO is back in place, I expect they will announce in the near future that earnings will be changed to a regular calendar year. They will have to restate the revenue so that they next announcement will be for the 3rd quarter ending on September 30.