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Although I still believe the market will have a second quarter "Hiccup" over the next few months as it did in 2010, 2011 & 2012; the sentiment and momentum in this TINA (There Is No Alternative) market driven by the Federal Reserve appears to be still up. As Chuck Prince of Citigroup said in 2007, "As long as the music is playing, you got to get up and dance". In that vein, here are three stocks that are priced around $6 a share that should do well as long as no one kills the DJ. I own them all.

ION Geophysical Corporation (NYSE:IO) is a small cap energy services firm that provides geophysical technology, services, and solutions for the oil and gas industry internationally.

4 reasons IO has upside from just over $6 a share:

  1. An insider just bought over $650K of the shares. It was the first insider purchase since mid-November.
  2. Analysts expect revenues to grow at a 14% CAGR over the next two fiscal years. The stock sports a five year projected PEG of under 1 (.70).
  3. The stock sells for just 6x operating cash flow and under 11x 2014's projected earnings.
  4. The mean & median price target on IO by the five analysts that follow the stock is $9 a share.

Emerald Oil (NYSEMKT:EOX) is an independent energy company. The company focuses on oil and natural gas properties primarily located in Montana, North Dakota, Colorado and Wyoming.

4 reasons EOX is a good speculative buy at just over $6 a share:

  1. Analysts expect over 80% revenue growth both in FY2013 & FY2014 and the company is projected to achieve substantial profitably next fiscal year.
  2. Given that projected sales growth, under 14x projected FY2014's earnings seems cheap. If buyout activity increases in the oil patch, EOX could make a logical acquisition target given its small market capitalization (under $200mm), huge production growth and desirable assets.
  3. Although the company is expected post a two penny a share loss in FY2013, it is already cash flow positive.
  4. The mean price target held by the 7 analysts that cover the stock is $8.50 a share.

Molycorp, Inc. (NYSE:MCP) produces and sells rare earth and rare metal materials in the United States and internationally. By far the most speculative play of the three profiled due a high debt load, fluctuating commodity prices and challenges building new capacity. I am long via long bull call option spreads.

4 reasons MCP is a good aggressive play for speculative investors at under $6 a share:

  1. Insiders and Beneficial Owners have been huge buyers of the shares over the last nine months.
  2. Analysts expect revenue to grow at ~40% CAGR over the next two years.
  3. The mean price target by the 8 analysts that cover the shares is north of $9 a share, more than 50% above its current price level. DA Davidson recently initiated the shares with a buy rating.
  4. The stock was 10x higher two years ago and has been one of the most beaten down names in the market over that time span. The company is expected to return to profitability in FY2014.
Source: 3 $6 Stocks For The Current 'Risk On' Market