Agree, but expect to sit on your hands for some time. Stock may be undervalued but NGAS supplies appears in a bear market for some time. If you buy today you are hoping for a big hit in the new oil assets which hopefully will improve the cash flow. Without guidance on cash flow stock will languish and trade within a range of 6 bucks and 4. IMHO
**what I liked about the end of today was the aggressive buying. look at the ten day chart on a 30 minutes intervals...hopefully the selling is drying up.
the old adage- buy them when know one wants them! I really see little risk at this point in gmxr- the real risk is not owning it down here- I have amased around 15k shares with average price of around 4.80- little under the water, but the game is not over yet! I assume much of the selling is idiot shorts smelling endless blood and flippers from the offering and maybe even a few margin calls on the stock!
Downside risk no--opportunity cost...possibly. I own shares also at 4.36 and bought another 10,000 shares today. Will buy more if we head to 4 bucks. Dont think we will breach these levels but anything is possible with a small cap stock.