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Each weekend I publish a weekly "Stocks to Watch" list on Scott's Investments. The list is not a blanket buy recommendation, but is a way to generate potential future investment or trading ideas. The list is generated using Finviz and looks for stocks hitting 52-week highs on Fridays on high relative volume. Since the US equity market has struggled in recent weeks, recent lists have been sparse.

US equity markets had an outstanding week this past week, so the Stocks to Watch list is larger than previous weeks. There are several noteworthy names on this list, the largest being Amazon.com (NASDAQ:AMZN). AutoZone (NYSE:AZO), Hansen Natural Corporation (HANS), and Whole Foods Market (NASDAQ:WFM) are three other noteworthy names on the list. PriceSMart (NASDAQ:PSMT) is a stock which has made several of my "Stocks to Watch" lists, most recently discussed on September 5, and which appears on this week's list. It has institutional support, and The Benchmark Company upped its price target to $87 on September 14.

I typically use this list to find stocks that have attractive valuations or growth stories (in addition to the strong trend). Akorn (NASDAQ:AKRX) manufactures and markets diagnostic and therapeutic pharmaceutical products, hospital drugs, and injectable pharmaceuticals. The company looks attractive using technicals and fundamentals. It currently trades at a PEG ratio of .71 and has a strong balance sheet with a quick ratio of 8.49 and current ratio of 9.96. It has shown EPS growth this year 178.42% and is projected to growth EPS the next 5 years at 25.5% annually. The company has a return on assets of 31.26%, return on equity of 53.39%, and return on investment of 34.05%.

According to AlphaClone, 7 funds bought into the stock for the quarter ending June 30, 2011 (0 sold out). Twenty-three increased their positions in the company while three decreased their positions, so the company has institutional support. From a technical perspective, the stock has been in an upward channel since March:

Below are the 15 stocks qualifying for this week's list:

Ticker
Company
Industry
Market Cap
Price
(NASDAQ:ACFN)
Acorn Energy, Inc.
Computer Peripherals
98.11
5.6
Akorn, Inc.
Drugs - Generic
857.44
9.06
Amazon.com Inc.
Catalog & Mail Order Houses
108627.84
239.3
(AZO)
AutoZone Inc.
Auto Parts Stores
13766.75
331.25
(NASDAQ:CASY)
Casey's General Stores Inc.
Grocery Stores
1810.32
47.59
(NASDAQ:DMND)
Diamond Foods, Inc.
Processed & Packaged Goods
1922.35
87.3
(NASDAQ:EBIX)
Ebix Inc.
Business Software & Services
663.63
17.73
Hansen Natural Corporation
Beverages - Soft Drinks
8160.95
92.11
(INSP)
InfoSpace Inc.
Internet Information Providers
374.25
9.81
(NASDAQ:LQDT)
Liquidity Services, Inc.
Internet Software & Services
942.96
33.32
(NYSE:NDN)
99 Cents Only Stores
Discount, Variety Stores
1443.25
20.46
PriceSmart Inc.
Discount, Variety Stores
2191.07
73.28
(NASDAQ:SIMO)
Silicon Motion Technology Corp.
Diversified Electronics
417.56
13.5
(NYSE:SUI)
Sun Communities Inc.
REIT - Residential
858.28
39.92
(WFM)
Whole Foods Market, Inc.
Grocery Stores
12234.97
69.05
Disclosure: No current positions in stocks mentioned.

Disclaimer: Please note that Scott's Investments is not a financial adviser. Please consult your own investment adviser and do your own due diligence before making any investment decisions. Please read the full disclaimer at the bottom of Scott's Investments.

Source: 15 Friday Market Movers To Watch In The Coming Week