What the Pros Say: Don't Trust US Bounce; Oil at $40

European and Asian stocks took strength from Wall Street's positive close in the previous session and rallied Friday. But one analyst told CNBC not to trust the turnaround. Below are the latest insights from analysts and investment professions from CNBC's programs:

Don't Trust the Bounce

The sharp bounce on Wall Street is like letting go of a beach ball being held under water -- it is going to pop up with fury, says Daniel Frishberg, chief investment strategist at LafferFrishberg.com. But he warns that gravity is eventually going to bring the beach ball back to earth.

Oil May Test $40: Woodside CEO

There is a possibility that oil prices may fall to $40 a barrel in the near-term, says Don Voelte, CEO of Woodside Petroleum. But he is confident the firm will post a record profit this year even if that happens.

Base Metal Prices to Remain Under Pressure

Prices of base metals are probably at levels that can't be sustained over the long run, says David Moore, commodity strategist at CBA. But he tells CNBC why prices are likely to remain under pressure in the short-term.

Upbeat on BHP & Rio

Justin O'Brien, senior advisor at Citi Smith Barney is be looking into buying resources counters BHP Billiton and Rio Tinto. He explains his upbeat outlook to CNBC.

Australian Dollar Likely to Strengthen in the Long-Term

The Aussie dollar may weaken further next week, but this will provide a buying opportunity, according to Clifford Bennett, chief economist at Sonray Capital Markets. He sees the Aussie dollar vs the greenback at $0.79-$0.89 in the next 3-6 months.

Negative on the Aussie Dollar

David Mann, FX strategist from Standard Chartered Bank, remains relatively negative on the Aussie dollar going into the first-quarter of 2009. He explains why to CNBC and gives his outlook for the other major currencies.