Kieth Schaiferwent and totally unloaded today. Took a .17 cent loss on the last of his ( I think) 100,000 shares.
He sites the overall weak energy market and in particular the frac sand sector.
He states that while he was loathe to sell out, he felt the rainy day for frac sand will last for a long while. Nothing wrong with SNS, but it is being lumped in with the four big majors. As well there is a threat from a producer right in the permian basin. My own research shows this to be a brown sand producer. Supposedly brown sand has fallen out of favour with fracers, but their shipping rates must be pretty appealing as they are right there in the basin.
So in my opinion, this is now a contrarian play. I added to my position yesterday.
I hope the Select management can continue to reach there goals, and make me a happy contrarian.
I am long.