Personally, I would be very, very, very careful buying LUV right now... like another poster said I've also made more money on CAL... however that was very risky, and I happen to get a lucky break in a short window and took it.
If you don't trade that much, I'd suggest seeing what the market does solid for a little while before jumping on "bargains" .... I made the mistake on jumping on a "bargain" BAC @ 19.75, because in the first part of October it was around 37.....it did a dive bomb... now it is at 11.47...guess I'll be in for the long haul...
With the dow bouncing up 400 and down 500, etc...I would just wait til it stabilizes to buy anything

Right now it is like seeing a bunch of gold in the middle of a frozen lake...maybe you'll get lucky and make it out there, or maybe the ice will break and down you go....