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Last week was yet another crazy week, with the market moving 200 points to the upside and downside almost daily. It doesn't matter if the market goes up or down -- even if the market has a disastrous week, out of the 8,000 public companies, at least 1,000 to 2,000 stocks are likely to climb. It's our job to find those stocks.

I have found the thinly traded holiday markets are best suited to short-term trading; while others are relaxing in the Hamptons, there are trades and profits to be made!

This week's

Rocket Stocks

are primarily based around potential snapback plays as well as a few potential short-squeezes.


last week's Rocket Stocks column

, I focused on high-growth tech names as well as a few short-squeeze names. Here's a quick take on how each stock fared last week -- including my

midweek-update picks

-- panned out for the week:

With any hope,

this week's Rocket Stocks portfolio

will offer some good short-term stocks to trade based on the possibility of a snapback rally.

First up is

Coldwater Creek

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, which was one of last week's biggest losers, plunging 25% Thursday after the women's apparel retailer posted weaker-than-expected second-quarter results.

Coldwater Creek earned $8.7 million, or 9 cents a share, on sales of $253.5 million. Analysts, on average, projected earnings of 12 cents a share and sales of $266.4 million. The company's same-store sales, or sales at stores open at least a year, dropped 6% in the quarter.

The stock, which hit a 52-week low on the earnings miss, may be severely oversold and poised for a snapback rally. First off, the stock has short position of 23%; a common theme nowadays is that the shorts tend to overstep their bounds in certain names, creating incredible buying opportunities.

Next up is

Atmos Energy

(ATO) - Get Atmos Energy Corporation Report

, which is a pure play on the beaten-up natural gas sector. With shares trading not too far above their 52-week low (possibly due to natural gas prices), Atmos appears poised to snap back as heat across the country and increased demand for air-conditioning results in rising natural gas consumption.

Next up is

Vulcan Materials

(VMC) - Get Vulcan Materials Company (Holding Company) Report

, which is down almost 40 points from its high of $128. Shares of Vulcan -- which produces, distributes and sells construction materials and related services in the U.S. and Mexico -- have fallen due to the perception that the company's growth potential in its domestic and international businesses has slowed.

Concern with the hurricane season last week might have hurt Vulcan as well due to the fact that Hurricane Dean was looking as if it could shut down some of the company's plants. However, Mexico's Yucatan Peninsula is in full operation following Hurricane Dean. Operations at the plant and adjacent harbor were suspended as part of the company's hurricane preparedness plan. Vulcan Materials is a snapback play into next week.

And last is


(AAPL) - Get Apple Inc. Report

. Rumors have been flying that Apple might introduce a new-generation iPod as well as some other interesting technology at a meeting this week. One way to trade it is to buy Apple ahead of this Sept. 5 meeting as a play on the Apple hype and then sell midday on Sept. 5.

For the rest of this week's picks -- including a retailer, a tech and several others -- check out the

Rocket Stocks


To find the snapbacks and potential breakouts on a regular basis, check out these Stockpickr portfolios, which I use in my own research each week:

  • Today's Hot List: This daily list is a must-view at midday each day to see what stocks are making the biggest moves and why.
  • Always check the Biggest Percentage Losers, a list of stocks that lost big the day before, because they can snap back hard. When you check this list on Stockpickr, you can see which stocks are owned by the quality hedge funds and mutual funds. Pay attention to those. They will be buying at the lower prices, so you should be also.
  • Biotech Short Squeezes.

One final place to frequent is the


section on Stockpickr, where ideas such as those presented in this article are thrown around daily.

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 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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