After Thursday's tumult, it will probably take several weeks of whippy, back-and-forth trading before the market fully regains its equilibrium. However, most of the damage has been done.
From now on, you should focus on picking up the good values dropped by panicky sellers in their hurry to get out of town. I have three such bargain stocks for you today -- Hewlett-Packard Company (NYSE: HPQ), Oracle Corporation (NASDAQ: ORCL) and Research in Motion Limited (NASDAQ: RIMM).
Among some "growthier" selections for equity investors, bargains are popping up all over the technology sector. Blue chip stocksHewlett-Packard (HPQ) and Oracle (ORCL) both rate buys in my book. HPQ stock has met or exceeded Wall Street expectations in each of its last four earnings reports and has seen a number of revisions upwards to estimates lately in anticipation of its May 18 earnings report. That's a great sign. The story of growth is the same for ORCL stock, even though the company just reported earnings in late March and has a bit of a wait until the next report. Oracle's 17% sales jump in its last earnings report was an encouraging sign.
Finally, if you're a more venturesome type, go for BlackBerry maker Research in Motion (RIMM). The smartphone stock is getting a bit overshadowed by the Droid from Google Inc. (GOOG) and the iPhone from Apple Inc. (AAPL), but that doesn't mean the company is on the way out. RIMM is quoted at a mere 12X estimated net for the year ahead, and earnings projections for the company are steadily ramping up. A decade ago, the Internuts would have been falling all over each other to bid 50X, 80X or even 100X for an outfit like RIMM. Today, this great business is yours for a fraction of what it would have cost back in the days when people thought trees grew to the sky.
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