Next up is Hewlett-Packard ( HPQ), which reports earnings Aug. 16 and is a play off of that report.

With Nividia, Cisco and EMC all reporting great results, tech is clearly the place to be. Those reports bode well for H-P. In fact, Nividia made clear on its conference call that demand for PCs has not slowed -- a trend that should directly benefit HPQ.

For the rest of this week's potential highfliers -- including AIG ( AIG), Baidu ( BIDU), NYSE Euronext ( NYX), Apple ( AAPL), Boeing ( BA) and Transocean ( RIG), and the analysis behind each, check out the Rocket Stocks for the Week of Aug. 13-Aug. 17 portfolio on Stockpickr.com.

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 Answers 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 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 and SuperCa$h. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Altucher appreciates your feedback; click here to send him an email.

TheStreet.com has a revenue-sharing relationship with Trader's Library under which it receives a portion of the revenue from purchases by customers directed there from TheStreet.com.

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