"If you are looking for maximum rebound potential, you have to go lower down on the quality spectrum; it is typically the lower quality and lower priced stocks that will have the largest gains when the market rebounds," says turnaround expert George Putnam.

In his industry-leading service focused on distressed companies, The Turnround Letter, he looks at a package of 10 stocks recently trading below $5 per share while also offering "bundles of cash."

Here's his review:

"Given the problems in the credit markets, companies with plenty of cash and little debt should find support on Wall Street," says Chuck Carlson, editor of The DRIP Investor and the industry leader in dividend reinvestment plans.

Here, the advisor profiles three such "cash-heavy firms"-- Intel (NASDAQ: INTC), Microsoft (NASDAQ: MSFT) and Qualcomm (NASDAQ: QCOM).

Carlson explains, "Companies with lots of cash have lots of flexibility in how they run their businesses. Big cash coffers allow firms to pursue acquisitions, fund capital projects, boost dividends, or buy back stock."

He continues, "Also, companies with big cash holdings will become increasingly attractive as takeover candidates, especially if the large cash holdings represent a big chunk of the company's market value."

The advisor has screened for companies with strong cash positions and long-term debt as a percentage of total capital of less than 30%. Among those that passed were three tech issues several that he owns on his buy list.