I did not anticipate buying more airline stocks for anyone today but after the 10:30 oil supply announcement we couldn't resist. One friend purchased 4,800 more CAL shares and another purchased 1,000 more AMR shares. By the end of the day, the shares were up about 60 cents each.
I loved it when Bill Griffin pointed out to Jim Crammer that AMR has almost doubled in three months. Sticking with Jim's belief that airlines should never be bought, he suggested that now is a great time to sell. He repeated that no money has been made in the airline business in 82 years.
Wrong! Smart investors have made fortunes off airlines! No doubt, the recent run has been supper strong. The earnings potential of these highly levered carriers is huge. My target is $55 or better in three years.
Wednesday, December 07, 2005
AMR AND CAL ARE FLYING!
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