Each year Steven Halpern, editor of TheStockAdvisors.com, surveys the leading financial newsletter advisors asking for their favorite stocks for the coming year. This article is part of his 24th annual Top Picks Report.

International Securities Exchange Holdings, Inc. (NYSE: ISE) is the top speculative play for 2007 from Bernie Schaeffer, technical trading expert and editor of The Option Advisor. He explains, "ISE is an electronic exchange and the world's largest trading venue for equity options (in terms of volume traded).

"About two years ago, the ISE set a precedent when it became the first U.S. options exchange to debut for public trading. ISE has appeared in the earnings confessional seven times since its trading debut in early 2005. On all of those occasions, the firm has either matched or exceeded Wall Street's earnings expectations.

"Since it appeared on the scene, the stock's path of least resistance has pointed higher, although options players remain wedded to the bearish camp. If the stock continues to advance upon new-high territory, a short-covering situation could be in the offing, eliciting an additional source of buying power.

"Analysts are also skeptical; the most recent Zacks information finds that 10 of the 11 brokerages following the stock have named it a 'hold,' leaving one 'strong sell' rating and nary a 'buy' to be found. The skepticism is palpable on this one, making it a solid contrarian play as 2007 kicks off."

To see Bernie's top conservative investment idea for 2007, click here.