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Top Rocket Stocks for the Week of Oct. 1

Another stock worth a look this week is Kohl's (KSS - Get Report). I mentioned this retail stock last week in my weekly column Top 10 Stocks with Big Insider Buying, Buybacks and Insider Purchases and Buybacks XXIII portfolio.

Kohl's just reported that it will repurchase $2.5 billion worth of common stock over the next three years, and it's no surprise as the stock is near its 52-week low. A buyback of this size (13% of total outstanding shares) indicates that management believes it's time to get on board here.

On top of the buyback, Deutsche Bank reiterated its buy rating and $75 price target. The bank believes the repurchase plan will add to full-year 2007 and full-year 2008 earnings-per-share growth. Kristin Bentz, former Lehman Brothers consumer equities analyst and now managing editor and consumer retail contributor at, also feels that Kohl's is a buy.

As for the rest of the week's picks, I will take a closer look at GM (GM - Get Report) and see how high it's likely go. I'll also look at a very speculative Chinese stock, Linktone (LTON), which on Thursday traded 200 times its normal volume. I wonder what is up with that? And now that oil is over $82 a barrel I take a look at a few solar plays and alternative energy plays.

To see all of the picks and full analyses, check out the Rocket Stocks for the Week of October 1st-4th at

To find the snapbacks and potential breakouts on a regular basis, check out these Stockpickr portfolios, which I use in my own research each week:
  • Today's Hot List: This daily list is a must-view every midday to see what stocks are making the biggest moves and why.
  • Always check the Biggest Percentage Losers, a list of stocks that lost big the day before, because they can snap back hard.

    When you check this list on Stockpickr, you can see which stocks are owned by the quality hedge funds and mutual funds. Pay attention to those. They will be buying at the lower prices, so you should be also.
  • Ditto for the 52-week-low list. You must check the above two lists every day if you hope to find volatile stocks.
  • Biotech Short Squeezes. Dendreon(DNDN) and others can often be found in this category.
  • Stocks Rising on Unusual Volume: These are potential breakout stocks.
  • Stockpickr's System Trades of the Day: These are trades triggering that day in various backtested trading systems we've developed.
  • Stocks With Unusual Option Activity: Perhaps someone knows something?
  • Latest Activist Situations: These are beaten-down stocks that hedge funds are accumulating shares of and demanding change in. Believe me, these hedge funds piggyback each other. And once they start rocking the boat, things happen quickly. This should be on your must-view list.

One final place to frequent is the Answers section on Stockpickr, where ideas such as those presented in this article are thrown around daily.
At the time of publication, Altucher and/or his fund had no positions in stocks mentioned, although positions may change at any time.

James Altucher is president of Stockpickr LLC, a wholly owned subsidiary of and part of its network of Web properties, and a managing partner at Formula Capital, an alternative asset management firm that runs a fund of hedge funds. He is also a weekly columnist for The Financial Times and the author of Trade Like a Hedge Fund , Trade Like Warren Buffett and SuperCa$h . Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Altucher appreciates your feedback; click here to send him an email. has a revenue-sharing relationship with Trader's Library under which it receives a portion of the revenue from purchases by customers directed there from
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LTON $1.02 -15.70%
CC $6.34 0.00%
EMC $25.40 0.00%
GM $36.37 0.00%
FSLR $56.10 0.00%


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