Reducing FTK and Adding BTJ

Back on May 11, 2007, I posted a quick blog entry on Flotek Industries, Inc. (Symbol: FTK). Since my post, shares of Flotek are up about 100%. On May 11th, shares of FTK closed at $22.50. As I write, shares of FTK are trading down almost $2 on the day at $44.47. I have sold the majority of my shares but I still hold a much smaller position.

While I still beleive FTK is a very strong company with excellent prospects, I think the share price has gotten a little rich for the market. I will continue to be watching FTK and I hope to re-accumulate shares at a lower level.

So what am I buying with some of my FTK proceeds? Bolt Technology Corporation (Symbol: BTJ). I am working on a detailed blog entry for Bolt now. Hopefully, I will have something in the next week. Shares of Bolt are currently trading at $33.70. I have owned shares of Bolt for over a year and I am accumulating additional shares at this level.

Regards,

Tuff


Flotek Industries, Inc. (FTK)
Bolt Technology Corp. (Public, AMEX:BTJ)