It’s about damned time: Royal Carribean is sinking this morning (ticker RCL). This bugger has been very frustrating, but it’s nice to see it start to reverse hard away from its lifetime peak, achieved just two days ago.
The reason I find this short so appealing – – besides my fundamental disgust with the entire concept of thousands of obese people crowding onto a floating hotel eating all they can possibly choke down and polluting the seas with their excrement – – is that the channel has been violated. This belies a core weakness in the long-term trend. My desire, as you might imagine, would be for prices to blast below the channel and start to do some serious damage.
As for my portfolio in general, out of nine positions, eight of them are off to a GREAT start this mornig, with the momentary exception of goddamned SMH, since the endless handjob Jensen Huang is able to achieve with the global financial markets is still working via NVDA. This sucker’s gonna break, folks. I’m just lying in wait.
