Upcoming Earnings for Flotek Ind.

Yes, that's right...I'm talking about FTK again. We are seeing the accumulation of the stock prior to earnings again. Remember that management has made some pretty big predictions about earnings for the second half of the year. The money coming in and out of the stock makes me think that someone is accumulating while someone else is still pissed about management's mistakes this past year.

I have been complaining about some seller out there continually pushing the stock down with 1k block sales. On Oct 4th there was a huge trade (huge for FTK) for about 25k and ever since it looks like someone is accumulating rather than the previous distribution. I keep seeing bids at 14.50. We have seen this before and it seems to come just before earnings. Someone has to be willing to sell at these low prices and I think it is because that they are still mad about the big acquisition that fell through earlier in the quarter. Good riddance. This stock is at a bottom and has nowhere to go but up.



Here is a chart. Look at the flat, small spread periods of accumulation prior to earnings. The technical indicators pick up on this a little bit. I'm not a big candlestick guy, but look at the Morning Star reversal pattern at Sept 18th. I also point out the time when FTK cancelled its ENERCOM presentation because doomed negotiations were still going on. That was a big mistake!!!