United Airlines (UAUA)

rufusanton said: "The new stock is quite a blood bath so far: [url]http://finance.yahoo.com/q/bc?s=UAUA&t=5d[/url] It heard that creditors got it for $15 a share, though. How come it started trading at $40.00? Who determines the opening price and how? I thought it was excessive the moment I heard it. It amounted to a market capitalization of $5 billion. Remember that before the emergence from Chapter 11 (and before it was the clear the old stock would be canceled) the market capitalization was around $250 million, give or take. I expect UAUA to close the gap between 40 and 15 pretty fast. Once it comes down that far, there may very well occur a good deal of overselling and speculative investor may find a buying oportunity. Anyone else following this? Any other opinions here?"

trickynick said: "I'm short at $34.50. Might be worth being long later on but I am very doubtful it will hold its ground at this level in the near term."

trickynick said: "Hmmm...this sure is working out so far. I'd like to cover somewhere in the mid twenties. If there is a reversal I don't expect it to come up very quickly so I'll at least have a chance to lock in some gain no matter how small if things don't work out. I am probably dooming myself by even posting this but oh well."

thezster said: "Damn... I wish I had been paying attention. I noticed this thread earlier but didn't bother to "bookmark it". Shorting this puppy in the high 30's is/was a natural move..........."

trickynick said: "Well, so much for my theory about how this thing was supposed to behave in the near term. My position lost all its gains today and I'm back to even. Not covering though."