Best Stocks for 2008: Block buyer bets on First Solar (FSLR) and VIX Index

For 25 years, Steven Halpern, editor of TheStockAdvisors.com, has surveyed the leading financial newsletter advisors asking for their favorite stocks for the coming year. This article is one of 100+ ideas in the Best Stocks for 2008 report.

Because of the unique nature of his trading service, the top picks from Peter Way require some qualification. The editor of The Block Trader ETF Monitor and The Block Trader Oil & Gold Monitor follows the buying and selling patterns of block traders -- the big money buyers on Wall Street.

Based on this data, his recommendations are quantitatively calculated for short-term performance. As such, I have included him in our Best Stocks for 2008 report, with the caveat to readers that his opinion on these specific ideas can and will likely change in coming months. (Note that his cumulative record for the year for all his picks is 59% and 37% for his two services.)

With that aside, he explains, "I don't offer long-term speculations, since my information comes from volume market-makers and prop desks that have a much shorter focus. However, below are two buy recommendations.

"First, buy First Solar, Inc. (NASDAQ: FSLR), because it's a bright idea, at current price of $235.85, sell target is $301.29.

"Also, buy VIX, the S&P500 Volatility Index, because it handles trouble well, at $22.68, sell target is $31.17. The VIX quote is the current index price, which can be closely tracked by a 'synthetic' in options, so it is fair to use it directly as a performance measure. If there are objections to that, the VIX/8 November future on the CFE is being offered for purchase at $23.20."