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Gold/Mining/Energy : Fenway Resources Ltd. (FWY@V)
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To: Adrian Elbers who wrote ()11/19/1996 3:21:00 PM
From: Adrian Elbers   of 135
 
Well, the last couple of days have been interesting for Fenway.
Monday, the volume was much higher than normal with over 80,000 shares traded. One interesting occurance was that the VSE issued a forced short buy in of 6000 shares at the market price plus a penalty.
Those shorted shares were bought back at $11 - $10.30 market price plus a 70cent penalty. That just shows you what is going to happen when this stock gets some more momentum. The shorts are under a lot of margin pressure and as the stock goes higher they're being forced to buy in with a stiff penalty. For them to avoid this they're going to have to start buying shares in the market themselves. But that is also a no win situation because they'll then be driving up the price, and therefore forcing themselves into penalized buybacks.

Oddly enough, on Tuesday, the shorters have been given some room to breath as the stock moved below the $10 mark. My only explanation for this is lack of information. People who are selling there Fenway stock right now must have no clue about the upcoming share price explosion.

All I can say is that the Environmental approval will be coming sooner than later, so hold on to your hats and enjoy the upcoming ride of your life,
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