First up is Delia’s (DLIA), a teen retailer, who is down about 80% over the past 2 years. Things have been rough for this company as of late, with the last quarter posting a wider-than-expected loss of 16 cents per share. However, at these levels, Delia’s could snapback in the coming week, as per its earnings report. Certainly retail has been tough, but with a loyal niche market, teen customers are still going to buy -- especially with the school season right about to start. Estimates for the retailer's Logo Tee Shirts are too low; this also could be another catalyst for the stock. Upside could be as much as 25%, while you’re downside is 5%-10% maximum

J. Crew (JCG): Another interesting snapback play, which has lagged the recent retail rally. With earnings this week, J. Crew is likely to play “catch up” with the sector. The company is expanding into new retail “yoga” lines and has the ability ;everage its personal customer database of 24.3 million names to drive target mail, email and other various campaigns. Revenue growth has come from $690 million in 2003 to $1.378 billion in 2008, with operating margins from $38 million in 2004 to $183 million in 2008 Look for a snapback rally.

Century Aluminum (CENX), a high beta aluminum producer, who has retracted about 50% from its all time high of $80. Century Aluminum trades with a forward P/E of 7.7 and EV/EBITDA of 5.0. Its shares have corrected by more than 30% since mid-May, creating a great buying opportunity. Century Aluminum has recently increased its leverage to the commodity by unwinding forward sales contracts. For every $100 per-metric-ton change in the price of aluminum, Century's EBITDA changes by $55 million vs. about $35 million when the forward sales contracts were in place. Dahlman Rose recently wrote that Century "shares offer a compelling risk/reward scenario based on our $72 price target. As a result of the financial-restructuring initiatives, Century now has approximately $1.7 billion in tax credits, which we believe have a present value of approximately $7 per share. "When applying an enterprise value/EBITDA multiple of 6.5 times to our 2009 estimates and incorporating the value of the net operating losses, this translates to a price target of $72, offering almost 35% upside from the current levels. "Furthermore, we also struggle to envision a scenario where the shares decline by more than 15%, creating a very attractive risk/reward scenario" With Aluminum prices seeming to have formed a bottom, the best way to play this rebound is CENX

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