This Week's Rocket Stocks Portfolio Update

With the hedge fund industry at its lowest net-long position in five years, it is no wonder that every once in a while there is a massive snapback rally. Certainly, there was some bullish news that came out from the likes of Goldman Sachs(GS Quote) and Wal-Mart(WMT Quote), but the fact that this market is such a heavily shorted one only exacerbated yesterday's move to the upside.

Each week I write a Rocket Stocks column in which I try to identify stocks that could move much higher in the coming week, no matter how the market does. The Rocket Stock picks are primarily for people who like to trade around catalysts

This week's Rocket Stocks column and portfolio primarily featured stocks that I believe were oversold.

I recommended American Railcar(ARII Quote) as a snapback play after the company reported slowed earnings. At one point last week American Railcar was trading $2 below cash levels. Now up more than 5% for the week, I would look to sell it here. ...