Top Rocket Stocks for Week of Dec. 31
01/02/08 - 09:44 AM EST
James Altucher
Updated from Dec. 31, 2007, at 6:19 a.m. EST
Last week's choppy trading basically summarized how the market has acted for the past year. The Dow Jones Industrial Average saw nice action Monday through Wednesday as the typical year-end Santa Claus rally kicked in. However, this trend was broken abruptly on Thursday as a series of negative domestic and international news items hit the market hard. And Friday's housing numbers kept a rally at bay. As readers know, I like to look for stocks that have potential catalysts ahead of them. The catalysts I look for vary from week to week, but typically, they are earnings, irrational selloffs, regulatory decisions, company meetings and other market-independent events that could push a stock higher. In this week's Rocket Stocks portfolio, I highlight some companies that have been sold off irrationally by the market and could move higher in a snapback in the week to come. But before I make any recommendations, let's see how last week's Rocket Stock picks fared in another choppy market.- Corning(GLW Quote - Cramer on GLW - Stock Picks): Up 2.3% at one point but ending the week just 0.2% higher. Its $500 million buyback is in full effect, however.
- Akamai(AKAM Quote - Cramer on AKAM - Stock Picks): Up as much as 3% on the week, but finished down 1.5%. Akamai's longer-term growth may aid shareholders in 2008. I would watch F5 Networks(FFIV Quote - Cramer on FFIV - Stock Picks) as a tell for Akamai.
- NetSuite(N Quote - Cramer on N - Stock Picks): Down 2.9% on the week, this recent IPO remains very volatile. The stock sold off a bit once it was announced that an additional 930,000 shares were being sold to the underwriters.
- Kohl's(KSS Quote - Cramer on KSS - Stock Picks): Down 3.1% for the week. Despite the company's huge buyback plan, shares keep on falling. The stock's now trading at seven times earnings.
- Dick's Sporting Goods(DKS Quote - Cramer on DKS - Stock Picks): Up as much as 1.7% but ending the week down 4%. Dick's, however, is one of the few retailers that is bucking current trends. Its last quarterly earning report was amazing, sending the stock well over $30. It is being irrationally sold off with the retailers.
- Under Armour(UA Quote - Cramer on UA - Stock Picks): Down 4.9% for the week. As the weather gets and stays colder for longer, UA should be able to work through a lot of its inventory.
- JetBlue(JBLU Quote - Cramer on JBLU - Stock Picks): Down 5% on the week, despite the recent 19% investment by Lufthansa at $7.29.
- ValueClick(VCLK Quote - Cramer on VCLK - Stock Picks): Down 5.6% on the week; I still believe that ValueClick will be bought out soon.
- Legacy Vulcan(VMC Quote - Cramer on VMC - Stock Picks): Down 5.9% for the week.
- Genitope(GTOP Quote - Cramer on GTOP - Stock Picks): Up as much as 15% but ending the week down 8.8%.
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