Replies to post #196606 on Elite Pharmaceuticals Inc (ELTP)

[dr_lowenstein]

Imo that is sheer nonsense

[Sixman]

Over a million shares traded for whatever reason today. Nice volume, but the PPS stayed and closed within the same range. Substantial covering? Maybe, but sufficient supply supply to absorb that big order.

[BostonTrader]

Glad it's your opinion because it has no basis in truth

[lasers]

A mere 7 weeks remain until $ELTP's Jun 14 10-K and CC.

Only 11 weeks remain until the Jul 14 FDA approval for SequestOx.

As can be seen from the FDA monthly approvals all of the ANDAs and non-ADF Opioids are being approved.

http://www.accessdata.fda.gov/scripts/cder/drugsatfda/index.cfm?fuseaction=Reports.MonthlyApprovalsAll

It will be Dr. Califf's pleasure to approve $ELTP's ADF SequestOx for Commercial launch officially on Jul 14, 2016 or perhaps sooner

[John_Langston]

The number of shares shorted is taken from the FINRA Daily Short Report and are meaningless as to an open short position at the end of the day---they simply reflect whether the MM has possession of the shares on the 1st leg of a trade...

since MM's generally don't trade OTC issues for their own accounts and don't hold inventory, they fill short on the 1st leg so as not to take any risk on these tickers, and "cover" usually in milliseconds on the 2nd leg on trades that are transacted at the MM level of this "market"...

Also MM's will sell for a block dumper during the session and cover on the net trade that is printed as an avg (including commission which is why you see a markdown to price) or after hours as a T-trade...

End result: short volume on the report and zero open short positions...