It’s been another incredible month for stocks, and especially for those on my watch list.

With rare exception, stocks of all shapes and sizes are getting pummeled and are presenting us with great buying opportunities for those with a long term investment horizon.

I recently wrote that now was a fantastic time to buy shares of companies you have been watching and where the fundamentals present an excellent risk/reward scenario.

My watch list is no different, and this month I have a broad range of stocks that I am looking at for possible inclusion into the PeakStocks.com portfolio.

These stocks enter and exit my Top 5 as constant fluctuations in both price, market conditions, and business fundamentals constantly alter the investment thesis.

Today I wanted to give you a heads up on some of the stocks that I was watching for possible inclusion into my portfolio, specifically ones that are high on my list, and most likely to be added as formal recommendations in the weeks to come as they reach desirable price points, and present wonderful opportunities for long term investors.

Please note that my Top 5 Stocks for November aren’t yet formal recommendations.

I have more due diligence that I have to perform on them, but they are compelling enough with the research that I have done to be at the absolute top of my list, at least as of this writing.

I’ll break down this post into 2 parts:

• Let’s Start With What We Know: Let’s first quickly take a look at the current stocks in the portfolio, and what actions, if any, should be taken
• Top 5 Stocks for November: The latest companies that I am high on, and why

Let’s Start With What We Know

My top picks from my own portfolio

Before we get into the new names that are on my list, let’s first take a look at the names in my portfolio, and how I feel about them:

#1: GeoEye:  Strong Buy

GeoEye Inc. (NASDAQ: GEOY): GeoEye is a leading provider of global space-based and aerial imagery and geospatial information.

GeoEye’s imagery is used in a broad array of applications that include: government monitoring and surveillance, intelligence gathering, construction planning, scientific research such as environmental monitoring, and the online mapping industry via Google (NASDAQ: GOOG), Yahoo! (NASDAQ: YHOO), Microsoft (NASDAQ: MSFT) and other partners.

GeoEye is my highest pick right now, and the first place where you should put new capital to work.

Now that GeoEye’s latest satellite, GeoEye-1 has successfully launched and is producing usable imagery, the only thing holding back this stock will be the final approval of that imagery from the National Geospatial-Intelligence Agency (NGA) which should arrive within 30 days.

Once GeoEye starts generating revenue from this new satellite, GeoEye’s year-over-year comparisons will make the stock look ridiculously cheap, which it is.

Now that GeoEye-1 is launched and all but up-and-running, GeoEye is the best company in the commercial imagery space when compared to its rival DigitalGlobe (NYSE: DGI).

If you’ve got new money to invest, GeoEye is my #1 recommendation.

#2: AAR Corp:  Strong Buy

AAR Corp. (NYSE: AIR): AAR Corp. is a diversified company that provides products and services to the aviation, aerospace, and defense industries worldwide. It operates in four segments: Aviation Supply Chain; Maintenance, Repair, and Overhaul (MRO); Structures and Systems; and Aircraft Sales and Leasing.

I just put out an exclusive post on AAR Corp.