This one’s from Notable Calls.
Bounce time?
Very little to report today. I generally feel the market is due for a bounce here. I see some hot shot market commentators throwing in the towel this AM, which leads me to believe we are pretty close to a bottom.
– PetroBras (NYSE:PBR) is getting positive comments from Deutsche Bank this morning with the firm upping their tgt to $95. The stock is also being added to Morgan Stanley’s Model Portfolio. Worth a look.
– Research in Motion (NASDAQ:RIMM) is trading down again, now hovering just below $120 level in pre mkt trading. CSFB was out with a init call on RIMM last night (Underperform; 100 tgt). I hear it’s a boring 66pg read. RIMM now looks like a solid bounce play here.
– I also like General Elec (NYSE:GE), Boeing (NYSE:BA) and Rokwell (NYSE:ROK) here as bounce plays. The last one has been absolutely destroyed here on a rather expected profit warning. I feel we may get some valuation based upgrades soon.
Fyi,
NC
