Taking On Water

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In a truly organic market, the cruise liners would all be trading for about three cents per share right now, but they’re not. All the same, a little bit of the incredibly grim reality (AKA their future) is seeping in, and my best short this morning is Royal (ha!) Caribbean.

slopechart RCL

Here’s a longer-term view, illustrating how absurdly lofty they remain:

slopechart RCL