During the past few months my colleagues and I have been pondering what, if any, stocks might do well during an Obama administration. I posted Obama Pick: StemCells Inc. about 10 weeks ago, and so far the stock is up today (with almost everything else down) StemCell (NASDAQ: STEM) and continues to look promising.

The closing price of this small cap stock on the day of the report was $1.58. It is a volatile stock for sure because I bought in at $1.20 and now it is trading up about 27% (as I type) from yesterday's close of $2.15 to $2.73.

Obviously ten weeks although a short time in general, may be a long time in a stormy market, but I will ride this one out even though I could reap 128% gain at this moment. Forgive me, all you day traders, who think I think I should sell and book over a 500% IRR. (Might be worth it just for bragging rights later in the year as I have seen others do)

I have no information that would lead me to understand why the stock is up so much. The clinical trials I reported before have not added anything new I can glean today. There was a report last week by a small research house I never heard of calling for the stock to reach $3.00 (Dawson James Securities Initiates Research Coverage of StemCells, Inc. With Buy Recommendation) but I think that is all wild speculation. It could be that in a day, and it could also collapse.

Ignoring today's bounce I still think STEM is one to watch if you can get in at a lower price. If it gets away -- let it, and pursue something else. There is nothing you have to do -- except taking care of your family and friends in these trying times. I will update after the market close.

Update: Stem closed the day at $2.53, up $0.38 of 17.67% as of 4:00 EST.

Sheldon Liber is the CEO of a small private investment company and the principal for design and research at an architecture & planning firm. He writes the columns Chasing Value and Serious Money. Disclosure: I own shares of STEM.