MINNEAPOLIS ( Stockpickr) -- There are many ways to make money in the stock market. Some investors prefer to buy stocks and hold for the long term. Others like to trade stocks for short-term profits.

Whatever your preference, investing or trading, you need to pick stocks that can be bought or traded for a profit. The many methodologies at your disposal in finding opportunities include value, growth, technical analysis or some hybrid style of investing.

It has been my experience that the hybrid approach generates the biggest bang for the buck. Specifically, I like to find stocks that are growing at a faster rate than the market currently values their shares.

Over the last decade or more, I have used this growth-at-a-reasonable-price approach to generate big gains for my stock picks. It may sound simplistic, but when a stock is growing its earnings at a rate of say 20% and yet trades for only 10 times forward earnings, the result is fairly easy to predict: The stock price will go up.

Related: Two Pair Trades to Play It Safe

In the last two years, there have been many candidates that meet the criteria of growing quickly yet trading for a low valuation. That makes sense given investor reluctance to buy stocks and with companies seeing earnings growing quickly as they emerge from a recessionary period.

Today the pool of candidates is shrinking as valuations increase. That said, there are still plenty of stocks out there whose growth is matched with a reasonable valuation. Here are five that I would consider today .

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