Seeking Alpha

Jim Van Meerten's  Instablog

Jim Van Meerten
Send Message
Jim Van Meerten is an advisor to Marketocracy Capital Management and writes on financial subjects here and on Barchart Portfolio Blogs. He earned a BS in Accounting and Business Administration from Berry College; a Juris Doctorate from the Woodrow Wilson School of Law; and attended... More
My company:
Marketocracy Capital Management
My blog:
Barchart Portfolio Blogs
  • Carnival Cruises Continue To Hit The Rocks 0 comments
    Jan 25, 2012 10:57 AM | about stocks: CCL, AXP
    Carnival Cruises (CCL) is having one fiasco after another. I had just about talked my wife into an ocean cruise when the Costa Concordia owned by Carnival hit the rocks and sank on January 13th. I was watching the news on January 24th just as divers pulled another missing body from the wreckage. I could hear the postman's truck coming down the street and went to get my mail.

    To my surprise there was a joint mailing from Carnival Cruises (NYSE:CCL) and American Express (AXP) offering me a $100 on board credit if I would book a cruise on the already sunk Costa Concordia. I called the 800 number on the offer to give them my opinion that it was not only in poor taste but a marketing blunder by them for not pulling a mailing weeks after the ship had sunk.

    To my surprise instead of getting an apology and maybe a offering of a discount on another cruise - which is what I would have done if I managed the call center - the phone rep started ripping me a new one. When I voiced that I thought she was out of line and asked to speak to a supervisor she really let loose on me again and hung up on me.

    I was stunned! Here was an opportunity to perform damage control and market to a potential customer another cruise and they chose to blow it by attacking me.

    I wasn't a new customer. Last summer my mother and I took a very enjoyable 14 day cruise to Alaska on the Holland America ship called the Amsterdam and thought the $12,000 total we spent on the cruise was a great value.

    Enough about how poorly Carnival is handling this disaster let's look at the numbers. They tell me more than just the ship has hit the rocks:

    Barchart technical indicators:

     

    • 96% Barchart technical sell signal
    • Trend Spotter sell signal
    • Below it's 20, 50 and 100 day moving average
    • 35.44% off its previous 1 year high
    • Relative strength Index 41.15% and sinking
    • Recently traded at 30.79 which is below its 50 day moving average of 32.73
    Stocks: CCL, AXP
Back To Jim Van Meerten's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.