Benz Energy (BZG.V) Message Board

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Microcap & Penny Stocks : Benz Energy (BZG.V)

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To: John T. who wrote (70)	2/10/1999 8:27:00 AM
From: Ed Ajootian	Read Replies (1) of 272

John, Just a hunch but I think the Europeans are stepping up to the plate here and averaging down. European investors bought about $26 mm of the convertible notes last year, through Dominick & Dominick. In the last 3 days Dominick accounts have acquired 40,000 shs. of Benz. I'm just putting 2 & 2 together. The Euros bought the notes with a conversion price of $1.70. There is no way they are gonna let $26 mm just go up in smoke, especially with the company having taken the hard steps to insure its survival with the personnel cutbacks. So now that the company's prospects are looking pretty good and the downside is covered, the Euros are moving in. They realize that these next few weeks are likely to be the last time anyone is gonna be able to build a significant position in the stock of this company without moving the stock price way up as they got in. They are not as cagey as the Canadians and do not bother to mask their presence by spreading their buying over several different brokers. They just step up and buy the stock. It almost looks as if they _want it to be known that there is some huge buyer out there, as if to draw out some huge seller that may be lurking. This would fit with some rumors I have been hearing that a Benz shareholder with an immense stake is getting impatient and needs cash fast. If my speculation is right, there will be some point at which the big seller will finally come out from hiding and start meeting Dominick's buys with massive sells of his own. We would then see a couple of days with massive volume and little change in price. This would be a great entry point for any one watching at home --- it would signify that the big seller is finally being taken out. Will be interesting to see at what price this battle will occur.

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