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UAUA - UAUA CAL merger
Suppose United and Continental do merge? I wonder what the Z'' score for the combined company would be? Would the market cap weighted average be a good approximation? UAUA Z'' score is about -2 and CAL Z'' score is about -0.5 now.
I'm short UAUA and suffering.
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That's an interesting question.
VectorVest has a valuation formula that takes into account forecast earnings yield, return on capital, earnings growth rates, etc., and their formula gives UAUA a relative value score of .06 on a scale from 0.00 to 2.00. But they give it a 1.70 on the same scale for timing, because its technicals are so strong. You'd think at some point the fundamentals would assert themselves.
Even the Iceland volcano, which is supposed to be costing airlines a fortune, hasn't slowed UAUA's ascent.
Long OTM June puts on this, which have melted like a bar of soap in warm water.
Hedgie traders are just trying to squeeze the shorts. It's no secret UAUA is a POS, and that's why it has the short interest it does.
Resistance is at 25.00. I doubt it will squirt past there. But I'm going to short this too, come Monday.
Nice 9% drop today.
I closed half my short for only a small loss on 5/6. Keeping the other half for a while.