This Week's Rocket Stocks Update
08/01/07 - 09:04 AM EDT
James Altucher
Each week, Stockpickr features 10 stocks that may move substantially higher in coming days. The goal of this "Rocket Stocks" column and portfolio is not necessarily to find the best stocks for the next century, but rather ones that can either snap back this week because of an irrational selloff the week before or that have some other potential catalyst that can spark an explosion in the coming week.
This week's Rocket Stocks portfolio focused on stocks that were set to report earnings and stocks that got pole-axed in last week's selloff. This now updated portfolio, as of this midweek check-up, includes some new picks for the remainder of the week. Our best recommendation so far this week has been MasterCard(MA Quote - Cramer on MA - Stock Picks), which reports earnings today. MasterCard quickly climbed 12 points yesterday, so if you own any it would be wise to take off at least half or even three-quarters of your position into earnings, as this protects from downside risk. Although our thesis for MasterCard is intact, it's just not as compelling a story now that it's up this much. Next up is Level 3 Communications(LVLT Quote - Cramer on LVLT - Stock Picks), which is up 6%. Level 3 was a pure snapback play, which can provide investors with short-term profits in the right oversold stocks. Level 3 reported horrible earnings last week, sending shares down as much as 16%, but at Stockpickr, we used the volatility to our advantage.
RSS
