By James Altucher
Updated at 2:40 p.m. EST on March 2, 2009

As readers know, I like to look for stocks that have potential catalysts ahead of them. The catalysts I look for vary from week to week, but typically they include earnings, irrational selloffs, regulatory decisions, misinterpretation of company-specific news and other market-independent events that could push a stock higher.

Everyone knows we are in a brutal bear market, but even in bear markets you get short-term snapback rallies.  Each week at Stockpickr we search for stocks that could snap back in the coming days.

Let’s look back and see how last week's ideas fared.

Flowserve (FLS) finished the week up 5% after gapping higher by as much as 10% on Tuesday.  Fourth-quarter 2008 profit grew 19.3% on strong order fulfillments and aftermarket demand in the oil and gas, chemical and power markets.  For the quarter, Flowserve said it earned $114.4 million, or $2.03 per share, up from $95.9 million, or $1.7 per share, during the same period last year. Sales rose 5.4% to $1.2 billion, from $1.1 billion a year ago.

Ternium (TX) finished the week down 10% after reporting its first loss of $109 million dollars for the fourth-quarter 2008 in nearly seven years. 

Here are a few ideas that appear in this week’s Rocket Stocks portfolio.

ATP Oil & Gas (ATPG): Long ahead of earnings.  ATP Oil & Gas could move higher based on its depressed stock price vs. its historical average and its net-asset replacement value. 

Furthermore, given that management currently owns north of 22% of the company, it tends to be bullish on the company’s outlook during the conference call. On Friday, ATP signed a $150 million dollar investment with GE Energy Financial Services (GE) in which GE will get a 49% limited partnership in a floating oil and gas production facility.      

While ATP has an excessive amount of debt within its capital structure vis-a-vis its common equity, management is focused on paying off a substantial amount of debt in 2009. 

ATP has the ability to rally north of 20% in a single day. In afternoon trading on Monday, it was down 6.9%, or 24 cents, to $3.25.

Vision China Media (VISN): Long ahead of earnings.  This interesting Chinese media company has $140 million in cash, no debt and quarterly revenue growth of 285%. Vision is positively positioned to capture the growing demographic trend in China from printed media to advertised media as advertising in China is expected to grow at a 28% compounded annual growth rate in 2009, with total media advertising revenues going from just $3.9 billion in 2006 to more than $29.4 billion in 2007. 

Vision China could move 20% higher based on its strong balance sheet, position as one of the leaders in media advertising, and oversold condition. 

During afternoon trading on Monday, it was up a penny at $6.07.

Transocean (RIG): General short.  This is a controversial idea, but given the weakness in the rail stocks, particularly CSX (CSX), Burlington Northern (BNI) and Union Pacific (UNP), one seriously has to question the viability of the short-term rise in oil.  Additionally, the recent breakdown technically of Exxon Mobil (XOM) under $70 does indeed cause some concern for all oil stocks going forward.

During afternoon trading on Monday, Transocean was down $3.88, or 6.5%, to $55.89.

This week’s Rocket Stocks portfolio also includes bearish trades on Agnico-Eagle (AEM) and AutoZone (AZN) and a bullish bet on Joy Global (JOYG).

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:

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, research which stocks are owned by the quality hedge funds and mutual funds. Pay attention to those. The funds will be buying at the lower prices and likely supporting the stock.

Ditto for the 52-week-low list. You must check the above two lists every day if you hope to find volatile stocks that can snap back

Stocks Rising on Unusual Volume: These are potential breakout plays.

Stocks With Unusual Options Activity: Perhaps someone knows something?

Latest Activist Situations: These are stocks that hedge funds are accumulating shares of and demanding change in. Believe me, these hedge funds piggyback each other. And once they start rocking the boat, things happen quickly. This should be on the must-view list.

One final place to frequent is the Answers section on Stockpickr, where ideas such as those presented in this article are thrown around daily. And you can further discuss your ideas and share opinions in Stockpickr's Member Forums section.

At the time of publication, Altucher had no positions in stocks mentioned.

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.