SOHC Project

So I finally get a decent Compression Tester (the one from harbor freight didn't fit) and tested compression on the motor. Cylinders 1,2 & 4 are good, all at around 120psi. However, cylinder 3 has zero compression. I mean none...nada, needle does not even flicker when I kick the engine. I bounced this off a couple people and it sounds like it might be a bad valve. This afternoon I hope to get the head off, then I can check out the valves and see whats go'n on.