Opinion on  Alvarion Ltd (ALVR)     Sector: Technology  >  Industry: Computer Services
Adding to international stocks allocation

Readers: I write to share with you my recent decision to increase my exposure to foreign stocks for my longer term portfolio. I most recently wrote to you about my two favorite foreign stock plays in The Netherlands and Malaysia . Each of those countries are doing well and my outlook remains bullish for them. I am now going to suggest a third country play. For international investing, I like starting with a country and then working my way down to stocks. If I cannot get a good feel for any individual companies, but remain bullish on the country, I simply pick-up an ETF. If you are looking for international stocks, head over to eforeignstocks , the free foreign stocks search engine, I put together. There, you can search for ADRs and ETFs based on sector, region, country, etc.

Okay, now for today’s reveal. My additional foreign stocks exposure will be coming from: ISRAEL. I believe Israel to have a much stronger upside potential for the rest of 2007 than the US markets. If that is good enough for you, then go ahead and put some money into ( AMEX: ISL ) today. If you care to be a little more choosy, I have a real winner in Israel that remains somewhat expensive and speculative, but is one of the cheapest stocks in the world in this sector. It is Alvarion Ltd (NASDAQ: ALVR) . According to Reuters: "Alvarion Ltd. (Alvarion) is a provider of wireless broadband systems. The Company supplies carriers, Internet service providers (ISPs) and private network operators with Worldwide Interoperability for Microwave Access (WiMAX) standard and other wireless broadband solutions, as well as compact cellular networks to developing countries and remote areas." The company has recently signed deals with Australia , Denmark , and even works here in the US . I like this play through 2007 for three reasons: players will continue to implement new Wi-Max system through 2008 regardless of their success; the company can seek growth and offer real solutions to emerging and rural markets; its F P/E is actually positive and below 50 — Clearwire ( NASDAQ: CLWR ) may never come that far.

Some other stocks that may be worth further DD: Check Point (CHKP); Teva Pharmaceuticals (TEVA); Partner Communications (NYSE: PTNR).

Disclosure: No positions have been taken yet, but I will evaluation ISL and ALVR for entry points for the next 8 market days.