Each week, Stockpickr lists 10 stocks that may move substantially higher in the coming week, which we call "Rocket Stocks." The goal of this portfolio is not necessarily to find the best stocks for the next century, but rather stocks that can either snap back because of an irrational selloff last week, or have some other potential catalyst that can create potentially explosive moves during the coming week.

This week

, we focused on stocks that where reporting earnings, and stocks that where ripe for a snapback.

We also updated the portfolio to include

Goldman Sachs

(GS) - Get Goldman Sachs Group, Inc. (GS) Report

, which looks like it put in a bottom, as well as


(MVIS) - Get MicroVision, Inc. Report

, which is down after reporting great earnings as well as signing a contract with


( MOT).

The goal with rocket stocks during earnings season is to find the stocks that have the best potential for crushing earnings and trading up.


(CSCO) - Get Cisco Systems, Inc. Report

reported earnings last night, and the market reacted favorably. Shares of CSCO were up 6% in after-hours trading to $31.40 a share. Cisco has been the face of this rally -- the stock has risen more then 70% from last year's bottom -- so it was a bit risky to recommend; but Cisco offered too much upside to investors.

Quarterly revenue rose 18% to $9.4 billion, beating even the most bullish Wall Street forecast of $9.275 billion and CEO Chambers' own estimate made in May of revenue growth of 15% to 16%. Increased demand of its network equipment and routers makes this stock still attractive, but this was an earnings trade, so


take profits if you took an earnings trade.

I also recommended

Ralph Lauren

(RL) - Get Ralph Lauren Corporation Class A Report

, which reports this morning at 9 a.m. The stock has gone up 4% this week, but this is still an earnings play. I also recommended

TheStreet Recommends



, which got a downgrade on Monday and offered investors an amazing buying opportunity. Anyone who bought is up 10%.



(AKAM) - Get Akamai Technologies, Inc. Report

seems to be stuck in the water, no matter how many shares the insiders buy, but you cannot count the stock out just yet; the insider buying was too strong.

Make sure to check in next Monday to see the next set of rocket stocks.

Just in case you missed out so far on this week's rocket stocks, the portfolio with total analyses can be viewed


. It's also updated for several new stocks to play any potential rally for the remainder of the week.

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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to send him an email.

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