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Updated from 7:04 a.m. EDT

The market is so dirt-cheap and is due for such a nasty snapback that we can hold off on the usual opening anecdotes and get right down to business.

Each week I like to find beaten-up stocks that I believe have the potential to snap back in coming days because of specific catalysts that could play out. I especially like when these stocks with near-term growth potential also qualify as solid long-term plays.

My main goal here is to find stocks that can rise in the coming week, no matter how the market moves. I like to look for snapbacks, earnings plays and other tradable market catalysts. As a general rule, you want to buy extreme weakness and sell extreme strength

For a complete list of ideas, check out this week's

Rocket Stocks portfolio

, which includes such stock as


(AAPL) - Get Apple Inc. Report



(KBR) - Get KBR Inc. Report


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At the time of publication, Altucher and/or his fund had no positions in stocks mentioned, although positions may change at any time.

James Altucher is president of


LLC, a wholly owned subsidiary of and part of its network of Web properties, and a managing partner at Formula Capital, an alternative asset management firm that runs a fund of hedge funds. He is also a weekly columnist for the

Financial Times

and the author of

Trade Like a Hedge Fund


Trade Like Warren Buffett



. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Altucher appreciates your feedback;

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