CHICAGO, June 12, 2013 /PRNewswire/ -- Stocks in this week's article include: RPX Corp. (NASDAQ: RPXC – Free Report), Polaris Industries, Inc. (NYSE: PII – Free Report), AutoNation Inc. (NYSE: AN – Free Report), Grand Canyon Education, Inc. (NASDAQ: LOPE – Free Report) and Acadia Healthcare Company, Inc. (NASDAQ: ACHC – Free Report). Kevin Matras shows how to find winning stock picking ideas in the government's economic reports, especially the recent Employment Situation report.
Screen of the Week written by Kevin Matras of Zacks Investment Research: Every week the government and other entities release economic reports that cover all areas of the economy. On virtually any given day there could be anywhere from one to a handful of reports. And while the financial media does cover them, they usually focus on headline numbers without doing a deeper dive.
This is unfortunate because within these reports often exists money making details that can quickly be uncovered with just an extra few minutes of reading.
For example: in the Employment Situation report, it details which sectors saw the most new jobs, or labor force expansion, and which ones contracted. I like this report for stock picking because if an industry is hiring lots of new people, then that must mean there's lots of new activity to warrant it. And business activity usually means more money and profits for those companies and their stocks.
Once these reports point you in the right direction, you can then plug in the appropriate sectors and industries to capitalize on this information and find the best stocks within those groups.
Profitable stock ideas can come at any time and any place. But instead of waiting for the next great stock to fall into your lap, you can actively search for them. And by reading a few extra reports and then putting those ideas into a capable screener, you'll soon be amazed and some of your newest picks. And you'll feel pretty smart after finding them too.
Sign up now for your free trial today and start picking better stocks immediately. And with the backtesting feature, you can test your ideas to see how you can improve your trading in both up markets and down markets. Don't wait for the market to get better before you decide to do better. Start learning how to be a better trader today: http://at.zacks.com/?id=111
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