Updated from 10:38 a.m. EDT, March 16

The inevitable snapback rally finally occurred last week, sending the S&P 500 up more than 8% for the week.

We saw positive comments from Citigroup ( C), Bank of America ( BAC) and JPMorgan ( JPM) regarding the profitability of each firm for the first two months of the year, albeit excluding any potential asset writedowns they might have to take. The SEC announced it might reinstate the uptick rule, and the FASB has pledged to release guidelines for the potential easing of mark-to-market accounting rules.

All of this was more than enough to get the market moving higher.

At Stockpickr, we look for stocks every week that could snap back in the coming days. This week's Rocket Stocks portfolio includes such stocks as Adobe ( ADBE) and General Mills ( GIS).

To read more, visit Stockpickr.com.

Who's on Stockpickr Answers? Eric Jackson will be on Stockpickr Answers on March 16 to respond to investing and trading questions posed by members of the Stockpickr community. Not a member? Join the Stockpickr community today -- free.

P.S. Where is Jim Cramer putting his own money? Take a free peek at his personal portfolio to see all his buys and sells by clicking here. When you do, Jim will also send you exclusive email alerts telling you everything he's about to add to or shed from his Action Alerts PLUS portfolio -- before he makes his trade.

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.

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