Elite Pharmaceuticals Inc (ELTP)

[Pharma Sleuth]

Interesting. Almost no short volume. Usually you see some from the MMs like Knight Capital to naked short to cover trades as part of normal day to day.

So what we see here is traders working the bid and ask, steady buying and selling and typical manipulative tactics watching bid and ask....and likely a bunch of accumulation.

The Chart shows the buildup. The last run was based on the addition of 12 FDA approved drugs but this next one should be based on the announcement of the trials for Oxycontin market of $2.7B market.

However there are numerous other items that could step in like pending drug approvals and partnerships pending. Also look for an announcement for the Conference call in a couple weeks. This will be based on these trials. This will be a highly anticipated CC.