Updated from Jan. 20

Each week, I like to find beaten-up stocks that I believe have the potential to surge higher (or lower) in coming days due to a specific event-driven catalyst. I especially like when these stocks with near-term growth potential also qualify as solid long-term plays.

I compile my ideas in the

Rocket Stocks portfolio

. Remember, each pick has a specific catalyst.

With the market down huge, there are plenty of short-term opportunities out there (including

CSX

(CSX) - Get Report

).

Despite the

Dow Jones

falling about 5% over the past week, various

credit indicators

, such as TED spreads and low bid/cover ratios, keep on improving.

To read more,

visit Stockpickr.com

TheStreet Recommends

.

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

Stockpickr

LLC, a wholly owned subsidiary of TheStreet.com 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

and

SuperCa$h

. 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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