Beat the Street
Top Rocket Stocks for Week of March 10
03/10/08 - 11:08 AM EDT
Updated from 6:59 a.m. EDT One of the primary goals behind Stockpickr.com is to help individual investors (myself included) add a little bit of discipline to their trading. Part of this discipline is to constantly check the 52-week lows and analyst downgrades lists, a practice I regularly follow. Each week I compile a new list of Rocket Stocks, 10 stocks that I believe have the potential to climb in the coming days. This portfolio does not necessarily contain the ideal long-term stock picks for your mother's 401(k), but rather these stocks are short-term picks for momentum traders. Statistically, snapback and breakout stocks have worked well, netting some nice returns along the way. In this volatile market, stocks that trade with catalysts have worked best. Before we take a look at this week's Rocket Stocks portfolio -- which includes names like National Oilwell Varco NOV, Dick's Sporting Goods DKS and Potash POT -- let's see how last week's picks fared
- BJ's Wholesale BJ: Up 7.5% on the week after beating analysts' fourth-quarter estimates and raising its 2008 earnings forecast.
- Balchem BCPC: Up 1.8% on the week as fourth-quarter net sales were up 100% year over year.
- Marvell Technology MRVL: Down 3.2% on the week.
- Harvard Bioscience HBIO: Down 4.8% on the week.
- Basic Energy Services BAS: Down 5.5% on the week after reporting in-line fourth-quarter earnings.
- Goldman Sachs GS: Down 5.8% on the week.
- Merck MRK: Down 6.6% on the week
- Petrobras PZE: Down 6.6% on the week.
- PetSmart PETM: Down 10.7% on the week after lowering its 2008 profit outlook.
- Blockbuster BBI: Down 13.1% on the week, despite posting fourth-quarter profit more than quadruple.
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