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NGAS Resources, Inc., through its subsidiaries, engages in the development and production of natural gas in the United States. It primarily operates in the southern Appalachian Basin. As of December 31, 2005, the company had 73,253,992 thousands of cubic feet of proved natural gas reserves and 328,696 barrels of crude oil reserves. It also constructs and maintains gas gathering systems for its wells; operates natural gas distribution facilities for two communities in Kentucky; operates a gas gathering system connecting natural gas supply basins; and owns inactive gold and silver prospects in Alaska. Its customers include gas marketing intermediaries, pipelines, and transmission companies, as well as local refineries. NGAS Resources was founded in 1979. It was formerly known as Daugherty Resources, Inc. and changed its name to NGAS Resources, Inc. in 2004. The company is based in Lexington, Kentucky.
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Looks like resources are coming back, after the assromping that the market took last week.
NGAS bounces off support at 6.92 a couple of days ago.. RSI rising from oversold, MACD looks like a bullish crossover is coming. Previous support was at 7.77, that may cause some friction. Next major resistance point is at 8.42.
-------------------- the market is not your mother
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Actually natural gas is going to bottom out soon, I don't think we have seen the absolute bottom. PQ is a better play in my opinion, it moves faster, better volume. The resource you should be in is gold and silver as they hit bottom this week. Natural gas is next.
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Hmm. The gulf coast is not slated to get a hurricane that has any magnitude whatsoever. The east coast on the other is gonna get clobbered. This is known well in advance, cubans came up with the technology since they have a keen interest in saving their butt. So if you are banking on making money off a disaster, you are a year too late.
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I dunno. They predicted a real ass-whooping hurricane season this year. I'm just trying to keep my investments out of harm's way. I haven't heard of that many hurricanes in Kentucky.
And if I happen to make profit off disaster clean up -- well, I'll share my picks on that too.
-------------------- the market is not your mother
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