It does not look as if we can come to agreement on this one - it is OK, we can still respect each otehr.
I invested based on the rationale I provided above (UAL profitability critically depends on prenegotiated Y contracts in TPAC with likes of Apple that needs to be in China - DAL does not have this exposure). If I am wrong, I have missed large opportunity (UAL fell to a quarter of its peak value). Worse, I as a flyer, I am walking away from my GS status and will spend all my budget with DAL since I do not believe that UAL will be on par, for foreseeable future.
Let us see what happens.