Alaska Air shares should be purchased on the recent pullback because the industry-leader carries low debt and continues to raise earnings, said Barry James, CEO of James Advantage Funds. James said he is also bullish on Macy's stock, saying the retailer is well-managed, and is deepening its client relationships even if it is not adding significantly more stores. He added that Macy's higher-end consumers continue to spend. Finally, James said he is positive on shares of JPMorgan Chase, saying the money center bank's regulatory troubles are behind it and now it can get back to business.

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