This article originally appeared on Traders Reserve.

The market volatility is enough to make many investors sick — up triple digits one day, and down triple digits the next. But the market is still trading a bit lower that it was in mid-February, and I believe stocks are cheap here.

But cheap doesn’t always mean good. So I’ve put together a list of the best stock picks for 2011. (Get all 10 of my Top Stocks to Own for 2011 here.) The stocks on this list are all benefiting from strong global trends, and I expect them to really explode this year.

China-Biotics (CHBT)

China-Biotics (NASDAQ: CHBT) provides research and development, production, marketing and distribution of microbial products in China. The company is a leader in the intestinal microbial balance market. The live microorganisms protect against high blood pressure and blood sugar levels.

My attraction to the stock is from a valuation and growth perspective. Estimates for profits in the year ending March 2011 are at $1.67 per share. That puts the forward earnings multiple at 7 times. The estimate for 2012 is $2.19 per share. That is more than 30% earnings growth that can be bought for a single-digit multiple. Are you kidding me? This is the steal of the century, and if I was forced to pick a favorite stock for 2011, this would be the name I would choose.

Atwood Oceanics (ATW)

Offshore drilling for oil took a big hit last year with the British Petroleum (NYSE: BP) oil spill in the Gulf of Mexico. Despite the disaster last year, offshore drilling is here to stay and, like it or not, grow as time goes by.

From an investor perspective, the oil spill creates opportunity to buy stocks tied to offshore drilling. Many in the group, including top stock pick Atwood Oceanics (NYSE: ATW), saw share prices plummet. With oil prices more likely to increase than fall in 2011, investors have a real opportunity to make money on stocks like Atwood.

ATW trades for less than 10 times trailing and forward earnings. Those earnings will likely be higher in 2011. Multiple expansions, plus earnings that are higher than expected, create an opportunity for outsized gains.

MEMC Electronic Materials (WFR)

MEMC Electronic Materials (NYSE: WFR) designs, manufacturers and sells silicon wafers for the global semiconductor and solar markets. It is the solar part of MEMC’s business that I am most attracted to for 2011. Oil prices are now over $100 per barrel, and the last brush with peak oil prices saw crude reach nearly $150 per barrel. Take a look at how solar industry stocks performed during that time. It was most impressive. I expect a repeat performance in 2011.

MEMC flat lined in 2010, making the stock somewhat of a coiled spring. Higher oil prices and a stronger economy will unleash that coil. With a forward price-to-earnings ratio of less than 12, WFR is cheap given its growth prospects. Could 2011 be the year of solar? I think so, and I’m not alone.

Wonder Auto Technology (WATG)

The recovery of the auto industry around the globe was a headline story in 2010. The recovery becomes full-on growth in 2011. Wonder Auto Technology (NASDAQ: WATG) is an auto parts maker in China. The emergence of the middle class in China is of epic proportion. What does the middle class clamor for if not for automobiles? As the population in China converts to a spending economy, the automobile sector will surely grow. There will be competition for certain, but I like the domestic Chinese play here in Wonder Auto.

I also like the stock for the valuation and takeover theme. The stock is incredibly cheap considering the growth potential. At the current stock price of just under $7 per share investors can own that growth for just over 5.5 times forward earnings. Like the China-Biotic pick, this one is a no-brainer.

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