Stocks bounced back on Thursday from the previous session's steep losses as investors latched onto positive corporate and economic news, in the absence of a clear worsening in Europe's debt crisis.

Still, trading was volatile and volumes were thin as turmoil in Europe's bond markets kept alive fears that the crisis could still engulf Italy.

The Dow Jones industrial average .DJI was up 112.92 points, or 0.96 percent, at 11,893.86. The Standard & Poor's 500 Index .SPX was up 10.60 points, or 0.86 percent, at 1,239.70. The Nasdaq Composite Index .IXIC was up 3.50 points, or 0.13 percent, at 2,625.15. (commentary and photo courtesy of Reuters)

RSI issued two buy recommendations:

• Buy 179 shares WisdomTree LargeCap Dividend (DLN); Volatility = 4.71%; Yield = 3.03%
• Buy 596 shares PowerShares Dividend Achievers (PFM); Volatility = 4.65%; Yield = 2.70%

These two picks represent defensive investments of the “risk off” category that pay good yields around 3%. While these two funds demonstrate good uptrending trajectories, their long term trends need to demonstrate that they can resume their prior uptrends.

Catch you later.