Even Intel contributed a bit to the rebound, as its stock bounced from a $46.50 low for the day to finish at $47.94.

"But don't expect these stocks to bounce 20 percent," he warned.

But Ashton's stock has been bouncing around, partly because of overall thrashings in the stock market.

I expect to show a profit of not less than a hundred million francs when the stock bounces back.

Some analysts expect the stock to bounce back to the $120-to-$130 range in 12 to 18 months.

"If we're right, these stocks will bounce back," he said.

Often investors do not want to sell losers, feeling a stock will surely bounce back.

In addition, many retail stocks, which have done poorly recently and have been considered undervalued, bounced higher.

A firming bond market helped stocks bounce back in the afternoon, but that was not enough to counter a negative tone established early in day.

The stock has since bounced slightly above its initial price.