direction, page-9

I agree that an upside to 12.35 isn't worth the fees or hassles. I'm a bit upset I already have a decent holding in this bad boy. I think it will fall below $12- after the dividend with no clear end to the fall. Admittedly, I am terrible at timing the market and my advice on timing the market is statistically worse than the advice of a magic eight ball.

Did some math this morning and the earnings from Indo should offset the losses in Australia if the exchange rates stay at $0.95.amd they reach their forecast of 17.5% growth in profit in Indo currency. They would also minimise SPCA losses as exchange rates minimise the price difference with brands using cheap international imports. Hence I think if the exchange rate stays below an average of $0.95 for the half then ccl shouldn't see a reduction in earnings. Again I'm not good at predicting such things as exchange rates.

Looking beyond the half, it looks like ccl plan to distribute far more drinks into the market with time and in a game that basically fixed margins I think ccl will return to solid long term growth patterns after the short period of instability