Short trading weeks like this Labor Day-shortened one are generally marked by lower trading volume, which is perfect for daytrading. As volume deceases, readers of Rocket Stocks can profit from intraday swings in the market -- so long as your stock ideas are good ones. It's our job to bring you such ideas.
With that said, I would lock in profits on
, up some 4%,
( TMA), up about 4%, and
, up 7%, as these stocks' catalysts have carried them higher.
This week's update also includes a few new stocks in the
portfolio. Let's take a look at these new picks.
First up is
which just hit a fresh 52-week low. The direct-marketer and retailer of products for teenagers posted a wider-than-expected loss of 16 cents a share, while analysts were looking for the loss to stay flat year over year at 12 cents a share. At these levels, dELiA*s could snap back in the coming week. Certainly retail has been tough, but with a loyal niche market, dELiA*s teen customers are still going to buy -- especially with the school season in full swing. Estimates for the retailer's Logo Tee Shirts are too low; this also could be another catalyst for the stock.
Another stock worth looking at is
, which has risen some 20% since the last time we recommended it as a potential rocket stock off of earnings. Amazon still has a fairly high short position compared to its earnings growth potential.
Many short-sellers feel that Amazon is very expensive, but this is not a short-term trader's worry. Let's not forget that Amazon crushed earnings the past two quarters -- sending shares higher 20% each time. With Christmas coming up and mega hedge fund Renaissance Technology loading up on shares, Amazon is a perfect short-squeeze candidate.
Just in case you missed out so far on this week's rocket stocks, check out the
, which contains all this week's stocks with analysis for each pick.
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
. 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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