Possible Bounce Plays: PetroBras, RIMM, GE, Boeing, Rockwell Automation

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 target 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 the $120 level in pre-market trading. CSFB initiated a call on RIMM last night (Underperform; 100 target). I hear it's a boring 66-page read. RIMM now looks like a solid bounce play here.

- I also like General Electric (NYSE: GE), Boeing (NYSE: BA) and Rockwell Automation (NYSE: ROK) here as bounce plays. The last one has been absolutely destroyed on a rather expected profit warning. I feel we may get some valuation-based upgrades soon.

Comments

[Stockaccumu...:]

Yes, excellent article... Petrobras is the number one bounce play today and for the next week ... it is only $10 off its all time high, and heading back to it ($77) very quickly... oil is at $140 per Barrel, PBR is a pure oil, gas, explore, play... exonential profit growth, about to announce earnings based on the last three month's high price of oil and gas... the world has never seen the kind of huge profit growth announcement that PBR is about to announce soon... PBR may be back to its $77 by late next week.... this is the last you will see this stock at today's price ever... it seems a fluke that it is still available... PBR is the best of ten thousand stocks, and the only one to seriously look at, with only a PE of around 20 to 22, and amazing news all this and last week, including today's fabulous upgrade... PBR will be far past the $95 prediction by fall without a doubt... all other oil plays already came back to basically their all time high... but you should move fast, as PBR has a tendency to quickly climb up $4 per day when it is on the move... that would be only 3 days to its all time high... but PBR also good as a long term play... we all know PBR will double in price by next summer this time...

2008 Jun 27 02:33 PM

[Dan Jacome:]

Credit Suisse RIMM rpt is pretty decent, I just sent it you via email -- they basically are worried about GM % compression and see 20% downside to the stock......

2008 Jun 27 11:38 PM

[User 183357:]

Overheard at county fair in Lafayette County, WI
Farmers are going to replant flooded areas. Even with reduced yields at 50%, they still will get more with the higher corn prices now. We're seeing a lot of replanting.

2008 Jun 28 07:32 PM