Rocket Stocks for the Week

Updated from 8:12 a.m. EST

With the holiday week upon us, traders and investors are expecting total market volume to be extremely light this week.

Generally speaking, holiday weeks have a positive basis upward in the capital markets, so if you want to go buy some Apple(AAPL Quote) under $90 on the news that Steve Jobs will not be giving the key-note address at MacWorld, that seems smart. Or some General Electric(GE Quote) at about $15 after S&P came out with a nonsensical credit watch on the company's credit rating for 2009, that also seems smart.

But remember that this week, little financial bets will be made in the capital markets, and that is how I am positioning this week's Rocket Stocks portfolio.

Here is a recap of how last week's Rocket Stocks ideas performed:

Long 3Com (COMS Quote): Ended the week up 20% after reporting fiscal second-quarter profit of $12.9 million, or 3 cents a share, from a loss of $35.6 million, or 9 cents a share, in the year-ago period. Excluding items, the company would have reported earnings of 12 cents a share, which is substantially higher than analysts' estimates of 5 cents per share. 3Com was a long trade of the quarter that worked perfectly.

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