This Week's Rocket Stocks Portfolio Update
Each week at Stockpickr, we look for short-term catalysts and snapback plays that could move a stock or even a sector higher in the coming days. Each Monday I present these ideas in a Rocket Stocks column and a Stockpickr.com portfolio, Rocket Stocks for the Week of Sept. 24-28.
These picks are for the short term, meaning that investors who buy these stocks based on these catalysts should hold them for no longer than one or two days (or until the catalyst has triggered). Unfortunately, though, selling stocks and locking in gains is one of the toughest things for investors to do; that is why I started writing this weekly update.
This weekly update usually comes Wednesday morning, but several moves Monday have prompted me to write a quick update for a few names.
I would sell Apple (AAPL), which rose 2% as increased news coverage of the iTouch sent shares higher. While Apple is still one of my back-to-school/holiday season plays, the iTouch catalyst is likely played out, making it time to move on.I would also sell EMC (EMC), which received two major upgrades from both Bear Stearns and Citi Investment Group. Both firms highlighted the massive VMware (VMW) IPO. Today, EMC received two new buy recommendations from Banc of America and Jeffries & Co. EMC is up about 4%. My share price target of $25 by January still has not changed.
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