Elite Pharmaceuticals Inc (ELTP)

[Son of Tangerine]

Some thoughts on the trading. If you have noticed today and even more yesterday, half the trades are market makers and traders signaling each other. And most of the time they are saying they need shares. Not gonna get into what all the numbers mean.

I have a few thoughts which is pure speculation but also some experience behind it.

Someone is building a large position...whether that is a potential buyer of Elite, I don't know. I do know that the first thing someone looking to buy the company would do is accumulate as much as they can while they can.

There is also short position that is being covered. So these two parties have been doing a dance. Neither wants the stock to run and both want to suppress while they do their work. ASCM is probably your short covering. INTL is probably your accumulator.

But there also seems to a play for folks buying and then selling those in blocks. Again...I think to INTL.

The stock moved 10% on what is still really low volume. Investors are mostly holding and why wouldn't you right now?

I don't think this is secret news but I could be wrong. If it was huge news, I think there would be more volume and again watching the dance with the MMs tells me otherwise.

Fun stock. Company itself is amazing.