Friday, June 27, 2008

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.



1 comment:

Mr Wolf said...

PBR getting positive comments from JPMorgan as well:

09:12 PBR Petrobras Brasileiro: Hearing PBR upgraded to Overweight at JP Morgan (68.32 )