Dear Subscribers,

September is historically the worst month of the year for the stock market. Not the case so far this year as the market is up +5.3% in a mere three days. The main impetus Friday was a better than expected August Employment Situation report. Was it that strong? Not really. But it was better than expectations and many pessimistic traders needed to close out their shorts to stop the bleeding. This fueled buying activity for the third straight session. However, it is far from smooth sailing from here. Later in the morning the ISM Non Manufacturing report showed the lowest reading since January and clearly the trend is going in the wrong direction.

This means that the economic outlook is still murky leading to more range bound action. So this week we bounced higher in the range. Maybe we go a notch higher from the recent momentum. But until more investors agree on a positive economic outlook, then soon enough we will reverse course and go lower in the range. Like I said in Thursday's note, the key is to have..."A balanced portfolio that is prepared for the market to move in either direction is the right call these days until there is greater clarity. So don't get too long...and don't get too short."

Watch "Profit From The Pros TV"-New Episode – September 4, 2010
•  Tracey Ryniec talks about the current focus of investors
•  Mike Vodicka shows the current support and resistance levels for the market.
•  Bull & Bear Stocks of the Week.
•  Tracey & Mike discuss a fast food giant's stock performance.
•  Roundtable Review panel looks behind the August unemployment numbers and gives their Top Stock Picks of the Week.

View Profit from the Pros TV

Best,

Steve Reitmeister
Executive VP, Zacks Investment Research

p.s. Earnings whisper breakthrough coming Saturday September 11th. Learn more now.

Today's Top Stories: Tuesday- September 07, 2010

ZACKS RANK BUY STOCKS

• Aggressive Growth - Medifast, Inc. (MED) reported its sixth consecutive earnings surprise on a 60% increase in revenue. Sales were up to $66.7 million, from $41.7 million a year ago. Net income almost doubled, to $5.6 million. Read More...
   
• Growth & Income - Caterpillar Inc. (CAT) has surprised on earnings 6 quarters in a row. And, the 2010 Zacks Consensus is up by a penny in the last 30 days to $3.73 per share. This is earnings growth of 71%. Read More...
   
• Momentum - CARBO Ceramics, Inc. (CRR) current year estimate is up 34 cents since last quarter's good release to $3.16. The next-year estimate is up 32 cents in the same time to $3.82, a 21% growth projection. Read More...
   
• Value - Jo-Ann Stores, Inc. (JAS) reported its fiscal second quarter 2011 results which crushed the Zacks Consensus by 900%. Analysts were only expecting 2 cents but Jo-Ann came in with 20 cents per share. Read More...
   

Learn how to profit from our exclusive Zacks Rank stock-ranking system with free resources. Read More...

• Top 5 Precious Metals Funds
  Add metals to your portfolio with First Eagle Gold A (SGGDX), GAMCO Gold AAA (GOLDX), RiverSource Precious Metals & Mining A (INPMX), Rydex Precious Metals (RYPMX) and Invesco Gold & Precious Metals Investor (FGLDX). Read More...
  

See all the great mutual fund resources.

• Bull Of The Day: O'Reilly Automotive (ORLY)
  Full Zacks research report: Read More...
  
  
• Bear Of The Day: J.C. Penney Co., Inc. (JCP)
  Full Zacks research report: Read More...
  
  
• ZACKS INDUSTRY OUTLOOK: Metals and Mining Review - Sept. 2010
  While the slow economic recovery is a significant factor in short-term decisions regarding M&A activity, mining companies expect to make acquisitions over the next three years. Read More...
  
  
• Cepheid's (CPHD) TB Test Shows Promise
• Goldcorp (GG) Heading for Andean
• New Contract Lifts Air Products (APD)

• Dow back in the black for 2010 @ CNNMoney.com
• Dumbest of the 5 Dumbest: We're Sick of Salmonella @ TheStreet.com
• The Worst Federal Agencies to Work For @ MAINSTREET.com
• End of Moratorium Doesn't Mean Drilling as Usual @ FOXBUSINESS.com
• Strategies to Reduce Taxes on Social Security @ Kiplinger.com

EDUCATION: Value

How to Consider Insider Ownership Read More...

PeopleAndPicks.com:

VIP "owltrades" pinpoint charts his BUY calls in (EC), (N), (SOLR) and (TITN). Read More...

• Momentum Stock Picks-Sept.2, 2010
• Best Industries, Best Stocks
• Aggressive Growth Stock Picks-Sept.1, 2010

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Best,

Steve Reitmeister
Executive VP, Zacks Investment Research

p.s. What is the mission for Zacks Profit from the Pros? To find out how we will help you become a more successful investor, click here.

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