Day Trader Alert: UAL Corporation (UAUA)

Posted: September 9, 2008 at 8:29 am

UAL Corporation (NASDAQ: UAUA) is seeing a major volume surge right before the open.  We are seeing already some 300,000 shares trade hands with a gain of 7% to $11.76.  This is a twofold issue today.  The trading SNAFU caused by the erroneous news report of a bankruptcy filing is adding fuel this morning, but NASDAQ has reportedly let most of those trades stand despite the wild price tank we saw yesterday before it halted trading.  The drop in oil by another $2.00 to under $105.00 this morning as Hurricane Ike is apparently headed south of most of the Gulf of Mexico energy complex is the main culprit.

Traders are also taking other airline carrier stocks higher, but UAL is up the most and has traded the most shares of the active airline stocks.

Jon C. Ogg
September 9, 2008

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