My cost basis is around $2.30, so I am not exactly enthralled with the stock. Nonetheless, with funding out of the way for 2010 and natural gas prices on the mend, there is a chance little old Flotek Industries, Inc. [[FTK]] can get their act together and offer shareholders a reason to stay long, by way of normalization of earnings.
As you can see, the stock price is recovering nicely today, up more than 20%. If the company can get back on track, and that’s a big if, I believe Flotek Industries, Inc. [[FTK]] can be my biggest winner of 2010.
Either way, with today’s run in the stock, coupled with my other positions boot stomping higher, I am up more than 6% for the year.
Needless to say, I am just getting warmed up.
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beast
the 25% short position helps.
I want to go to Fly school.
I took my 20% gain and ran ……. but I love how all the sudden my account jumped higher
I thank The Fly for convincing me to keep my last 20% of FTK after my tax loss selling last week.
I guess I was wrong about the “curse of the Fly” I will hold a little longer perhaps!
I will have a toast of a nice trepanillo in your honor tonight good sir.
TFWA!!
I’ve gone through some Pepto Bismol holding FTK, but I’m still resisting selling.
If I end up making money on FTK, we shall have a banquet, where only the livers of my enemies will be served.
Foie Gras anyone?
I’m on the Adkins diet so that works for me.
How can you own a company whose management releases a negative “year-end update” at 4 PM on New Year’s Eve?
Fly,
I don’t speak Spanish but if you’re having a BBQ or some such count me in
Hey Fly,
Honest question, at what point does a big money manager as yourself be given access to consult the firms senior management? In other words, what how much money you need to be invested in the firm? Did you happen to meet FTK people?
Who said I was “big time” and what is the definition of “big time?”
If by “big time” you mean Ackman big, I am not big time.
Your not big time? Who are we kidding? You old humble dog, you…
Anyhoo, Kass constantly visit management from various firms according to his blog, and he is nowhere near as big as Ackman.
Hey guys, check out grooveshark.com
You can search for any song, add it to a playlist, recall the playlist any time, etc. If you want to buy songs, it directs you to amazon/itunes. I’ve been rocking out with it all week. Tupac – ravi shankar – eazy e – ravi shankar – dr dre – frank zappa – dr demento, and the list goes on and on.
Nice job Fly, I am up a measly 2.6% for the year. I will turn away now.
2.9% here but sitting on too much cash at the moment. Shoulda woulda coulda but I seriously considered going “balls deep” during the last 15 minute sell-off on Dec 31.
Re: chinese economic repeat in ’10
Unlike the rest of the world, for China the 2009 global recession did not translate into a credit crunch. China has a very high level of household and corporate savings and a deep pool of foreign exchange reserves to draw upon, and it used these to encourage a massive surge in cheap loans. This, coupled with government stimulus measures aimed at infrastructure development, generated the high levels of economic growth the world has come to expect from China.
China’s problem in 2009 was a plunge in global demand for Chinese exports. Much of China’s industry was already operating on thin profit margins, and the drop in exports left parts of the economy twisting in the wind. Rather than firing workers to balance the books — something that could quickly translate into mass unrest — China rapidly increased loans to those companies on one hand, and launched major (debt-financed) infrastructure projects on the other. Combined, the two efforts (conservatively) cost more than $1 trillion, but they had the desired effect.
China’s current problem is that, with the exception of having more infrastructure than it did a year ago, Beijing enters 2010 in almost the same situation as it entered 2009. *Exports have rebounded by about one-third but have not returned to pre-crisis levels.* Chinese corporations remain burdened with the same export-dependency and capital-inefficiency problems that made 2009 so nerve-wracking, and structural shifts in the Chinese economy to reduce this dependency cannot be made in a decade, much less a year. *The Chinese, then, have little choice but to continue the debt-driven loan and infrastructure programs that allowed them to evade a crash in 2009 until such time that external demand revives sufficiently.*
~via http://tinyurl.com/yg9t9ce