Elite Pharmaceuticals Inc (ELTP)

[1millman]

I was able to pick up 465,000 shares yesterday when the bear raid hit. I'm sitting on a very nice position on ELTP now and have a lot of confidence that I made a very good buy for both the short and long run. Ther are several upcoming events that can make this a real game changer with upcoming FDA approvals and earnings reports that will more than likely be getting better every quarter. After all, earnings is what it is all about. The annual sales are almost equal to the current market cap and how often do you get an opportunity to buy a stock at that pps in relation to it's annual sales. If we get more fda approvals, this could also be a good buyout candidate. Who knows, Hi-Tech may see an opportunity here for them. They are very familiar with Elite's operation and the have the ability to handle a purchase like this. With some good news releases, this could also send the shorts scrambling to cover their position. It will be very interesting to look back on this one a year from now to see how it all plays out. Good luck to my fellow longs on this one.