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The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage. The opinions expressed are those of the author and do not represent the views of TheStreet or its management.



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Stock picks should never be all-out gambles, even when it comes to aggressive penny-stock investing strategies. Whether you are buying big blue-chips or bargain

penny stocks

, traders should consider setting some minimum standards to protect themselves.

For instance, right now consumer stocks seem to be back in focus as economic recovery appears to be gaining momentum. That means cheap

penny-stock picks in discretionary sectors may see big gains.

But before you dive in headfirst, insist on these standards for every stock of every size:

Make sure the company is listed on a major exchange and not traded OTC via pink sheets.

Make sure the stock pick has decent fundamentals.

Make sure buying pressure and share price momentum are on your side.

With this in mind, I'd like to offer

six consumer-oriented penny stocks flying high

now that spending is slowly on the mend.

TheStreet Recommends

Crown Media Holdings (CRWN)

Crown Media Holdings


owns several pay television channels, including Hallmark Channel, the Hallmark Movie Channel and the Hallmark Movie Channel HD. This

penny stock has had a successful 12 months, and is up +42% in that time, compared to gains of +23% and +18% for the Nasdaq and Dow Jones. More recently, CRWN has shown growth of +10% over the past six months. It is also important to note that CRWN posted a net profit margin on +10% last quarter.

Dreams Inc. (DRJ)

Dreams Inc.


is a manufacturer, distributer, retailer and seller of sports licensed products, memorabilia and acrylic display cases via multiple channels. DRJ has shown impressive gains in the last year, having climbed +81.5%. This penny stock has done well in the short-term as well, up +18% in the last three months, and +15% in the last month. Earnings-wise, analysts are projecting EPS of 14 cents this quarter, nearly doubling its EPS of eight cents this quarter last year. Buy DRJ as it approaches its 52-week high of $3.18.

Kingold Jewelry (KGJI)

Next on the list is

Kingold Jewelry

(KGJI) - Get Kingold Jewelry, Inc. Report

. KGJI has had a rough couple of months. That being said, I like this stock for several reasons. First, it was announced last week that Kingold had reached an agreement with

China Merchants Bank Limited

and will be producing 24-karat gold investment related products for the company. That sent the gold stock up +8% in one day.

Mad Catz Interactive (MCZ)

Mad Catz Interactive Inc.


is a designer, manufacturer, marketer and distributor of video game accessories for numerous platforms. In the last year, MCZ has shown an incredible gain of +250%, more than 10 times the gains shown by the broader markets in the same time. Much of MCZ's profits have been seen in the last month, as the stock has soared +100% in just 30 days! It should also be noted that MCZ posted a quarterly earnings growth of +73% in its last income statement.

Related Article: Netflix has nothing to fear from streaming video competitors

Sirius XM Radio (SIRI)

Sirius XM Radio

(SIRI) - Get Sirius XM Holdings, Inc. Report

is known for its subsidiaries that broadcast music, sports, news, talk, entertainment, traffic and weather channels through its satellite radio systems, for a subscription fee. Sirius has consistently been one of my favorite

penny-stock picks lately. In the last 12 months, SIRI has climbed +58%, and the penny stock is up +10% in the last month as well. Another statistic that is worth mentioning is Sirius's quarterly revenue growth which stood at +9% in its last income statement.

Related Article: Wal-Mart Stock: 3 Pros, 3 Cons

Star Scientific (CIGX)

Finishing off the list of top penny stocks to buy is

Star Scientific


which is involved with the production of smokeless tobacco products. Potential buyers may be put off by CIGX's recent numbers, as the stock has dropped slightly since the New Year. However, news that CIGX filed an application with the FDA for its new product Stonewall Moist may be great news for stockholders. If the new smokeless-tobacco product is approved by the FDA, the company could tap into new revenue. Watch out for news of CIGX's newest product hitting the shelves.

Related Article: 5 ETFs That Need to Die

As of this writing, Louis Navellier did not own a position in any of the stocks named here.

One of Wall Street's renowned growth investors, Louis Navellier is the editor of four investing newsletters: Emerging Growth (formerly known as MPT Review), Blue Chip Growth, Quantum Growth and Global Growth. His longest-running publication, Emerging Growth, has a track record of beating the market nearly 3 to 1. Navellier is the author of a BusinessWeek bestseller, "The Little Book That Makes You Rich," and the chairman and founder of Navellier & Associates, Inc.