This Week's Rocket Stocks Portfolio Update

Short trading weeks like this Labor Day-shortened one are generally marked by lower trading volume, which is perfect for daytrading. As volume deceases, readers of Rocket Stocks can profit from intraday swings in the market -- so long as your stock ideas are good ones. It's our job to bring you such ideas.

With that said, I would lock in profits on Apple(AAPL Quote), up some 4%, Thornburg Mortgage(TMA Quote), up about 4%, and Cepheid(CPHD Quote), up 7%, as these stocks' catalysts have carried them higher.

This week's update also includes a few new stocks in the Rocket Stocks for the Week of Aug. 27-Aug. 31 portfolio. Let's take a look at these new picks.

First up is dELiA*s(DLIA Quote) which just hit a fresh 52-week low. The direct-marketer and retailer of products for teenagers posted a wider-than-expected loss of 16 cents a share, while analysts were looking for the loss to stay flat year over year at 12 cents a share. At these levels, dELiA*s could snap back in the coming week. Certainly retail has been tough, but with a loyal niche market, dELiA*s teen customers are still going to buy -- especially with the school season in full swing. Estimates for the retailer's Logo Tee Shirts are too low; this also could be another catalyst for the stock.

Another stock worth looking at is Amazon.com(AMZN Quote), which has risen some 20% since the last time we recommended it as a potential rocket stock off of earnings. Amazon still has a fairly high short position compared to its earnings growth potential.

Many short-sellers feel that Amazon is very expensive, but this is not a short-term trader's worry. Let's not forget that Amazon crushed earnings the past two quarters -- sending shares higher 20% each time. With Christmas coming up and mega hedge fund Renaissance Technology loading up on shares, Amazon is a perfect short-squeeze candidate.

Just in case you missed out so far on this week's rocket stocks, check out the Rocket Stocks for the Week of Aug. 27-Aug. 31, which contains all this week's stocks with analysis for each pick.