Ugh, it's ugly out there -- 200 points down on the Dow Tuesday. Nasdaq futures down 12 points this morning. Everybody is stressed about their portfolios.
I get stressed, not only about my own portfolio but, to be honest, about the stocks I write about because I'm worried people are down based on advice I give. But the reality is, these are great stocks because even though they are volatile, they will do well in any snapback rally. Not only that, as a group, the latest rocket stocks portfolio is still up on the week, albeit not by much. I like to find stocks that have some cushion in cases of a downturn like the one we are trudging through now.
Each week Stockpickr comes up with 10 stocks that could move substantially higher in the coming week. I present this
column on Monday
The goal of this Rocket Stocks portfolio is not necessarily to find the best stocks for the next century but rather ones that can either snap back this week because of an irrational selloff the week before or because they have some other potential catalyst that can create explosive potential in coming days.
This week's portfolio focused on stocks that were set to report earnings and stocks that are ripe for a snapback. Today we update the Rocket Stocks portfolio to include
two new stocks
. To see the additions and the potential catalysts behind those picks, check out the
Monday was a great day for the Rocket Stocks portfolio with 10 out of the 12 picks closing higher. There where also six stocks that had 4%, 5% and even 6% moves that day, while the market was up only 50 points. Tuesday, however, was ugly; continued fears of the massive credit crush sent stocks down 200 points. While, most of the Rocket Stock picks are slightly up for the week, most of them have a high beta and can still move higher.
due to the initial public offering of its
subsidiary. EMC, which was up as much as 8% on Monday, gave back about half of its gains for the week on a classic "sell the news" reaction Tuesday. A move like that, however, often creates great buying opportunities however. In fact, that is just want Jim Cramer believes, as laid out in the video from TheStreet.com TV in which we discuss
the VMware IPO and how it affects EMC's stock
I also recommended
as a play on large insider buying by Sue Decker; that gave the stock a nice pop on Monday but nothing more. And
? What a buyback! I could have recommended that name just off the repurchase plan alone!
Make sure to check in on Monday to see the next set of rocket stocks. And just in case you missed out so far on this week's portfolio and the accompanying analysis for each pick, check out the
posrtfolio at Stockpickr.com. There you will find not only what we recommended on Monday but our new, midweek update stocks.
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;
to send him an email.
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