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Strategies & Market Trends : Wanted: Long-Term "Strong Buy" Recommendations
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To: Philip H. Lee who wrote (26)11/15/1996 7:42:00 AM
From: Larry S.   of 54
 
I like LUV for technical and fundamental reasons and also have "hunch".
The company announced an opening of east coast hub in Providence to
enter Eastern US market, the biggest in the country. Providence seems
to be the closest airport for many in the Boston-RI area, providing more
convenience then overwhelmed Logan airport in Boston. I look at how
the airline industry has been performing, with most companies showing
good earnings, I see LUV with consistent good earnings and make the
assumption that if poorly-run and high-cost airlines like USAIR can
show a profit, then LUV's earnings should take off. I bought USAIR at
8 and 11, and continue to hold it. In looking for other airline in
strong sector, LUV and Alaska Air looked promising. The announcement
of the northeast hub was the decision maker for me. Bought the stock
at 21 3/8 on day of announcement. Stock was at or near lows hit at
end of 1995, and was right on support line going back to the $5, $10
price range of 1991, 1992 and the low of 16-17 hit in late 1994, 1995
Looking for initial target of 27-28
where it should encounter resistance. Then run to low 30's. Will make
separate decision then whether want to hold stock longer to see if it can take out
it's old high of 38 or sell it for 50% or greater profit.
Of course it has to get there. Decision to buy stock was
largely influenced by price at 21. The odds seemed on my side to buy
a quality company on the cheap. What's your best stock idea? Larry Shapiro
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