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TheStreet Open House

5 Rocket Stocks to Buy This Week

NEW YORK ( TheStreet) -- There is no shortage of black clouds over Wall Street this Monday morning, as Europe and corporate scandals ramp up the risk for investors.

On the European front, a flight from Greek bonds Monday morning sent eurozone stocks crashing -- the Euro Stoxx 50 is down more than 2.5% as I write, and the French CAC 40 isn't far behind. Typically, massive selling across the pond leads to similar moves here at home, an ominous sign for Monday's trading session. At the same time, high-profile corporate flubs aren't exactly helping investor confidence right now.

JPMorgan Chase's (JPM) revelation that the firm's trading arm lost more than $2 billion due to sloppiness and poor risk management is still the news of the week. And it's apparently leading to the ouster of some of JPM's highest-ranking executives -- including the firm's chief investment officer.

>>Also see: 5 Stock Trades for a Confusing Market

On the other hand, Yahoo (YHOO) CEO Scott Thompson stepped down over the padded resume that has been getting so much attention in the last week. That move clears the way for hedge fund manager Daniel Loeb to snatch a place on the board.

While all of those black clouds are sending investors shying away from stocks this week, it's also giving us a chance to buy when others are fearful. That's why we're turning to a new set of Rocket Stocks.

For the uninitiated, "Rocket Stocks" are our list of companies with short-term gain catalysts and longer-term growth potential. To find them, I run a weekly quantitative screen that seeks out stocks with a combination of analyst upgrades and positive earnings surprises to identify rising analyst expectations, a bullish signal for stocks in any market. After all, where analysts' expectations are increasing, institutional cash often follows.

In the last 151 weeks, our weekly list of five plays has outperformed the S&P 500 by 82.72%.

With that, here's a look at this week's Rocket Stocks.

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