RE: RE: RE: Reserves Valuation?? You might want to consider dipping your toes into PEY-T right now, as I have been doing recently.
I've had PEY-T on a watchlist for a while, on the recommendation of a coworker.
As we all know, the selling has been pretty strong over the past few weeks.
So, over this past week, I've purchased a few hundred shares in the low to mid $15's
I'm now going to wait a bit, to see if this stock begins to form a bit of a base around this level.
Honestly, "sell in May" has become such a cliché.
The real selling in the market related to the "sell in May" philosophy seems to have pushed itself forward by about 4 to 6 weeks (i.e. late March/early April). As a result, there may not be much more downside related to the "sell in May" crowd.
Given this, you may want to slowly start accumulating your position now.
After all, this appears to be the depths of despair for Natural Gas stocks.
However, don't back up the truck just yet, as there could be a bit more downside.
That's the risk in investing. Also it depends if you are short-term or long-term
It's funny how market psychology can change so abruptly. A few months ago, PEY-T was trading in the low $20's, and several analysts were considering this a "buy". I know we've had a warm winter, which affected supply, however most analysts were fully aware that low Natural Gas prices and abundant supply issues were likely to persist throughout 2012, yet they still considered PEY-T a "buy" in the low $20's.
I'm not projecting a return to the $20's by next week, nor by next month... but longterm (next year), I believe that PEY-T will rebound from these levels.
Good luck to you.