James Altucher of thestreet.com lays out his top weekly picks:

Some $15 trillion to $20 trillion dollars in equity from real estate, bonds and stocks worldwide have been wiped off the face of the earth. For the most part, these assets will climb higher in the long term. But, where these asset classes go in the short-term (the next day to week) is anyone’s guess. Heck, in bear markets, the best strategy is to find volatile stocks and trade them accordingly.

However, one thing for certain is that some stocks have been beaten down way too much. These stocks have the potential to rocket higher on any positive catalyst.

Names in this week’s Rocket Stocks that you want to keep an eye include:

Ternium (TX): Ternium has lagged the overall steel and coal sector based on fears that Chavez is going to “take over” the company. Prices for Ternium’s iron ore pellets are projected to be up 87% from 2007 to 2008 ($79 per ton to $147 per ton) and prices for coal up 208% from 2007 to 2008 ($97 per ton to $300 per ton).

The stock is 35% off its 52-week high, and despite great earnings from U.S Steel (X) and a merger in the coal sector, Ternium is likely to report better-than-expected earnings and surprise the Street.

Next up is Heelys (HLYS), which is one hated stock. Heelys reports earnings this week and is likely to beat analysts’ depressed estimates. The stock is dirt cheap, with $100 million cash, zero debt

and EV/EBITA of 1.3. The company is expanding internationally and introducing a new line of shoes without wheels to cater to the skateboard set. And with the summer in full swing, it’s a great time to roll around outdoors. Heck, these days, most parents would rather buy their kids a $30 pair of Heelys to keep them busy than the new iPhone from Apple (AAPL).

Also worth looking at are shares of Exide (XIDE), the world’s largest independent producer of lead-acid batteries. The company, which produces batteries used in transportation, motive power, network power and military applications, is finally seeing positive momentum based on a major turnaround that management has undertaken.

Lead is one of the few commodities that have actually tanked since the start of 2008, which could be huge for Exide. Down some 40% for the year, lead is the primary input into batteries. Lower-input costs should equate to higher earnings for Exide. Since the company does carry some inventory quarter over quarter, this quarter should be the first in which Exide’s margins and profitability are bolstered substantially.

Track these picks and more of his rocket picks for the week at:

http://trackthepros.com/categories.php?category_id=539