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Update: Reiterate Short Sell of Under Armour $52.79 close July 24,2012
click link to view my warning being mentioned on CNBC TV today
http://video.cnbc.com/gallery/?video=3000104923

June 11, 2012


Equities Research Recommends that you short Under Armour (NYSE: UA) today
@ $105
(adjusted for split: $52.50)

3/31/2012 Under Armour (NYSE: UA) Trailing Twelve Months Operational Cash Flow $27.6 million
2/29/2012 Nike (NYSE: NKE) Trailing Twelve Months Operational cash Flow $1.767 billion
4/29/2012 Lululemon (NASDAQ: LULU) Trailing Twelve Months Operational Cash Flow $214 million

UA : Stock trades at over $5.5 Billion Market Cap (net tangible assets: $669 million)
OPS TTM 216 times OPS
vs.
NKE: Stock trades at $49 Billion Market Cap (net tangible assets: $10 billion)
OPS TTM 27 times OPS
vs.
LULU: Stock trades at $9 Billion Market Cap (net tangible assets: $569 million)
OPS TTM 42 times OPS

Under Armour (from 3 latest 10Ks)
Operational Cash Flow
2009: $119 million
2010: $50 million (-58%)
2011: $15 million (-70% vs.2011) (-87% vs.2010)


click to UA Stockdiagnostics OPS chart
click to UA Stockdiagnostics FCF chart



SELL SHORT UA $105


I have followed Under Armour since it's IPO @ $13 at November 2005.

I have nailed 5 short calls at all time highs. (see A-E)
GFNN/Stockdiagnostics called the bottom with an upgrade (F)

JUNE 11,2012
Today will be new milestone for an all time high.


UA PRICE CHART

Equities Research went bearish (A-E) on UA at $68 to $15 before going Bullish.(F)
 
A Short $68  (70% profit in 15 months)
Hottest Stock with Weakest Cash FLow August 21,2007 $68
 
B.Short $48  (58% profit in 1 year)
Large Caps May Not Always Be Less Speculative

C. Short $ 45
(55% profit in 9 months)
Love Your Valentine, Not Your Stocks

D. Short $38   (47% profit in 3 months)
Beware:  Standard & Poors Adds A Poor Quality Stock to Index

E. Short $33
   (40% profit in 3 months)
Easy Money : SHORT UNDER ARMOUR

F. long $15
GFNN news story

GFNN news story upgrade


below is technical chart courtesy of Richard Suttmeier,  email: GMCReports@aol.com




6/11/2012 the bullish case
Under Armour (UA): UA is added to the US 1 List of favored equities at Bank of America-Merrill Lynch.


* according to CNBC.COM over 1.2 million insider shares sold in last 12 months
 (total outstanding 52 million shares)

June 15,2012 6:15pm est. : Mad Money on CNBC-TV
CRAMER SAYS TAKE PROFITS ON UNDER ARMOUR

JUNE 21,2012  9:25am
from Minyanville:
UBS downgrades UA from Buy to Neutral