Each week at Stockpickr, we look for short-term catalysts and snapback plays that could move a stock or even a sector higher in the coming days. Each Monday I present these ideas in a Rocket Stocks column and a Stockpickr.com portfolio, Rocket Stocks for the Week of Sept. 24-28.
These picks are for the short term, meaning that investors who buy these stocks based on these catalysts should hold them for no longer than one or two days (or until the catalyst has triggered). Unfortunately, though, selling stocks and locking in gains is one of the toughest things for investors to do; that is why I started writing this weekly update.
This weekly update usually comes Wednesday morning, but several moves Monday have prompted me to write a quick update for a few names.
I would sell
, which rose 2% as increased news coverage of the iTouch sent shares higher. While Apple is still one of my back-to-school/holiday season plays, the iTouch catalyst is likely played out, making it time to move on.
I would also sell
, which received two major upgrades from both Bear Stearns and Citi Investment Group. Both firms highlighted the massive
IPO. Today, EMC received two new buy recommendations from Banc of America and Jeffries & Co. EMC is up about 4%. My share price target of $25 by January still has not changed.
I would also sell
, which was up 4% on Monday alone and is up even more today. Rumors of massive trade volume increases have investors returning to NYSE Euronext. Longer term, I still like NYX as mega hedge fund
has continually averaged down.
This week's update also includes two additional stocks. Let's take a quick look at these new picks.
First up is
, which appears on our buyout rumors list. ValueClick has been rumored to be a buyout candidate for
for some time now as it provides advertising campaigns and other e-commerce advertising that may fit nicely with the Internet search company. Down 10 points from its high, ValueClick is now a good way to play consolidation in the online media sector.
Next up is
, which also has been a rumored buyout candidate over the last month from the likes of
. Cree makes LED backlights for a various assortment of products and seems like a likely target.
Just in case you missed out so far on this week's rocket stocks, check out the
portfolio at Stockpickr.com.
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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