Usually that's true however, in this case I believed the volume was significant. Still a rather nebulous trend.
IMO, we are a hostage to the price of oil. It's down $1.20 today. Until it stabilizes or goes up, I don't think that the sand suppliers will go anywhere in the near term. don't shoot the messenger.
In ice's defense I think that 5x was a rhetorical number. 2x sales is a impressive number by itself. Lets all hope that the price of oil goes up.
It is a bit expensive (EV/EBITDA of 30) but, look at that Distribution Growth Rate, up 50%. It's all about the DGR in the mlp world.
More buyers of SLCA?. Seriously, one day's price action is meaningless most times. EMES is up significantly more over a 1 year period
Good point about the RR cars. That's why I'm not interested in the new sand IPO's (fairmont, abcab, etc) One needs the rail infrastructure as well as the mine.
I used to own some reits. Overall I lost money on them. They're too interst rate sensitive. Never know which direction rates will take. I'm 100% into MLP's. the last 5 years. Needles to say, I'm a happy camper as a result. I had FUN and OCIR which are not energys. I'm waiting for the Royal Dutch Shell partners IPO to come out. Pick some up then.
"So who is selling?". I was selling a small % of my portfolio when it exceeded the upper channel of the stock chart. It's now in the midrange sooo, its Probably a good time to buy which I did. The other thing, is that it's hovering around 25% of my portfolio. When it exceeds that I sell some off. I transfer that to MLP's. that will do good when energy prices fall or are stable such as MMP, TRGP, TEP, PSXP, DKL.
You can start with the 2nd qtr CC. Not all the contracts are take or pay but, a lot are.(which is impressive) they reserve about 10% of their production for the spot market.