Thursday, December 28, 2006
More Bang for Your Buck: Stocks
Health and wealth are always popular new year's resolutions. When it comes to health, many of us promise to eat better and exercise. When it comes to wealth, it gets a bit trickier. But Seven's Tom Haynes might be able to help. Hot stocks for 2007 in More Bang for Your Buck.
WSVN -- Talk about ringing in the new year!
But if you are serious about increasing your net worth in 2007, you need to slow down your spending.
Ken Gruneisen: "The economy is chugging along. Things still look pretty good, so we are optimistic."
Ken Gruneisen says the right strategy is to invest.
He should know -- he founded the investment website called Canslim.net. He says what you buy is as important as when you buy.
Ken Gruneisen: "You really need to buy quality companies that have strong earnings."
Topping Ken's picks for 2007 is sporting equipment giant Under-Armour.
Ken Gruneisen: "Under Armour still has a small amount of shares outstanding and stocks price can move substantially with just a little bit of buying demand, which is one of the reasons we like it."
Another stock that should have you running to your broker is Crocs.
The funky footwear is a hot item with teens and on Wall Street.
Ken Gruneisen: "For some reason they are a huge fashion hit and that's translating into a strong stock."
Go high-tech for a good bet. Ken says Dolby Labs is a strong contender in home theater.
They keep coming out on top of the DVD format wars.
Ken Gruneisen: "Part of the expense is to pay for the latest technology and Dolby seems to really have a foothold. They have a real lion's share of a lot of the special sound systems."
Some internet investments are strong next year -- advertiser Valueclick.com's stock just reached new highs.
Ken Gruneisen: "The company continues to chug along and grow it's sells revenues and earnings at a great clip. The online world continues to pick up."
And, as oil prices continue to soar, Petroquest Energy is grabbing it's share of the market and financial experts are taking notice.
Ken Gruneisen: "It looks like the institutional money managers and mutual fund managers seem to like they are accumulating shares in Petroquest right now, and we'd follow right along with them."
If you're carrying a digital camera with you, most likely your memory card was manufactured by Simple Tech.
The company is quickly becoming a leader in digital storage.
Ken Gruneisen: "There is still a lot of potential with Simple Tech because they are a small player and there seems to be a hot demand lately for some special products that they put out."
Another company with a special service to offer is Wipro Technologies.
As more companies are routing their customer service calls to India, Wipro is cashing in.
Ken Gruneisen: "It's really been galloping higher with big volume behind some of the recent gains."
Another stock to watch is Lam Research Corporation. This company is a technology leader in semiconductor processing equipment.
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