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Rocket Stocks for the Week

James Altucher

As readers know, I like to look for stocks that have potential catalysts ahead of them. The catalysts I look for vary from week to week, but typically they include earnings, irrational selloffs, regulatory decisions, misinterpretation of company-specific news and other market-independent events that could push a stock higher.

Everyone knows we are in a brutal bear market, but even in bear markets you get short-term snapback rallies.  Each week at Stockpickr we search for stocks that could snap back in the coming days.

Let's look back and see how last week's ideas fared.

Flowserve(FLS Quote) finished the week up 5% after gapping higher by as much as 10% on Tuesday.  Fourth-quarter 2008 profit grew 19.3% on strong order fulfillments and aftermarket demand in the oil and gas, chemical and power markets.  For the quarter, Flowserve said it earned $114.4 million, or $2.03 per share, up from $95.9 million, or $1.7 per share, during the same period last year. Sales rose 5.4% to $1.2 billion, from $1.1 billion a year ago.

Ternium(TX Quote) finished the week down 10% after reporting its first loss of $109 million dollars for the fourth-quarter 2008 in nearly seven years. 

Here are a few ideas, including ATP Oil & Gas(ATPG Quote), that appear in this week's Rocket Stocks portfolio.

To read more, visit Stockpickr.com.