Tuesday, August 15, 2006

Better late than never...

Well the market finally followed through with its rally attempt. It took 21 days, but maybe its time to make some money on the long side.

I covered my ATI short and I'm now in the hunt for some good long-side charts.

Speaking of the long side, Flotek Industries (FTK) didn't give their planned presentation at Enercom. It was supposed to be today. They didn't bother telling any of us investors and I actually had to call the front office to get some answers. Unfortunately, I didn't get any.

First of all, the head of investor relations was not in, which I think is strange. I bugged the poor secretary so much that she went and got some senior exec. I asked why FTK had not presented at ENERCOM and if they were going to present a conference call to make up for it. They told me that Flotek had made a business decision regarding their canceling of their presentation. They also said that they would NOT be giving a conference call, also a business decision. I pushed as hard as I could and the lady would not give me any hint as to what was going on.

Looks like FTK is in the middle of some big deal and just didn't want Jerry Dumas (CEO) to run his mouth again, like he did last quarter. Sometimes he gets a little too proud about his company.

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