Fat BloaterNot sure whether you can wring much of a profit out...

Fat Bloater

Not sure whether you can wring much of a profit out of CCL by shorting it. If you wanted to short it, you needed to do it back at $15. Its sp appears to have bottomed around the $12 mark for now.

The $12 price point has been a fairly 'sticky' low for CCL. Long term holders are no doubt adding to their portfolios by buying on this dip.

Maybe the biq question - rather than debating whether 10 cents more or 10 cents less than $12 is good value or assuming worse news is to come at the year end update - is to ask whether all/most of the bad news has been factored in already since the stock's fall from $15.

CCL has had two goes now at announcing its expected earnings downgrade and has already knocked the sp twice, so would it be reasonable to see a reduced chance of yet another - third - downgrade at results time? A 7% earnings drop is the worst case scenario now advised by the company.

CCL has a strong monopoly competitive position and market offering and the company will prevail beyond the present trading environment.