Top Rocket Stocks for Week of Nov. 12
Last week was rough, actually very rough, as increased credit worries and hawkish statements from Federal Reserve Chairmen Ben Bernanke rocked the market. With daily three-digit swings in the market, it is certainly tough for institutional traders to make money, let alone the retail investor.
Such a market environment is precisely why I compile and write this Rocket Stocks column. The sole purpose of this weekly piece is to offer readers like you ideas for stocks that have the potential to rally in the coming week, no matter how the market does.
I like to look at stocks that have real catalysts ahead of them that might propel them higher. Whether it's an earnings, arbitration or a pure snapback play, hedge funds (and all of us actually) are always looking for these stocks because the risk vs. reward is so tempting.
Before we look at This Week's Rocket Stocks portfolio, however, let's review last week's market action.For a little perspective on last week's selloff, let's look at U.S. household net worth: U.S. households have a net worth of $55 trillion. With all of the recent dire headlines, you might think that entire number was going to collapse overnight. But right now, Bernanke sees that $150 billion of at-risk mortgage debt is in question. This $150 billion is only 0.2% of the U.S. net worth. For argument's sake, let's take that $150 billion and triple it (3 times the amount Bernanke sees), to $450 billion. This still is only 0.6% of the U.S.'s net worth. You see where I'm going?
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