MKM Analyst: Would Short Southwest Around $39.50 And Cover Near $37

Southwest Airlines Co LUV shares are flat on Friday near the $39.50 level. According to some commentary from MKM's analyst desk, the airline stock might make a good short before it falls to the $37 level.

The analysts are concerned about airliners and cruise ships following crude oil's rebound to end this week, adding that they're "on watch for some weakness out of the perceived beneficiaries [of low oil prices]."

Related Link: What Airline Stocks Are Benefiting From Lower Oil Prices?

While "some airlines are still strong" on Friday, Southwest is "showing weakness" in their eyes. MKM's short idea -- a range between $39.50 and $37 -- would be abandoned above $40.65.

Southwest is at $39.47 as of this writing.