Elite Pharmaceuticals Inc (ELTP)

[HankVerde]

Although I bought ELTP for fundamental reasons, I tend to be a technical trader. I am holding ELTP for the long haul, but the charts do tell a story. Yesterday I said we needed the close to be above $0.145. However, even though it did close above that level, I did not like the price action at the close and warned that unless there was a strong move to the upside at the open, we were in danger of sliding into the $0.12s, where we are now. If we break $0.12, then we will likely see dr_l's prediction of prices in the $0.10s (hey, don't shoot the messenger, that's just what I see, although it is just my opinion because if I really knew what I was doing I'd be living on my own private island like Richard Branson).

Long haul, I am optimistic. Short-term, I am concerned.