Replies to post #382273 on Elite Pharmaceuticals Inc (ELTP)

[kayak_wench]

Whether it was fake or real it wasn't a very smart person who placed the bid.

If it was real they were hoping that someone would see an opportunity to dump a million shares at once....who would want to do that now with great news on the horizon?

If it was fake the best I could figure out is that it was intended to make people think ELTP had solid support at 0.033. That is a waste of time given with the spread we have its obvious we have support.

I think it was real and they realized the better way to acquire shares is by buying small lots here and there and try not to attract too much attention or drive the price up very much. I think they will have a hard time getting a million shares under 0.04 that way, but the best of luck to them.