Big move in Flotek Industries (FTK)

I'm long on FTK and have been for some time. I got caught with my pants down after their last earnings report. Their eps was 0.19 and represented a slight decline from the same quarter last year. The explanation was that because of their growth, their tax burden increased from 9% to 35%. I took them at their word and thought that we would see a bit of a selloff, but not too drastic. I sold at my break-even point and then jumped right back in a couple days later at 23, thinking that this was the bottom. Never catch a falling knife!!! Never catch a falling knife!!! Never catch a falling knife!!! After listening to the conference call for the second time it was clear that there had been some problems in execution and that was probably the real reason why the stock sold off. The beginning of the market correction didn't help either. Oh well, another valuable lesson learned.



Check out the chart and see the pain I've endured ever since. I had faith in the companies long term growth and decided to take the pain instead of take the loss. Well, we had a nice pop today on absolutely no news. I wonder if someone knows something? There has been a really big deal in the works for a while and I wonder if there is big news to be released soon.