Hundreds of stocks have hit new highs in the past week, and some of those companies are just getting started.

Yesterday, I told you about five stocks that I think are headed for a fall. Now it's my turn to play the bullish optimist.

A new high doesn't have to be a peak.

Let's go over five highfliers that I see headed higher.





Whole Foods Market (Nasdaq: WFMI)




Liberty Capital (Nasdaq: LCAPA)




California Pizza Kitchen (Nasdaq: CPKI)




CNinsure (Nasdaq: CISG)




Cedar Fair (NYSE: FUN)




Source: Yahoo! Finance.

Whole Foods Market
There was little reason to get excited about the leading organic grocer when the recession was at its darkest, especially when you're dealing with a company frequently mocked as "Whole Paycheck" for its ability to suck up salaries for premium groceries.

However, faster than you can say "tofu tetrazzini," Whole Foods is hopping again. After five consecutive quarters of negative identical-store sales, the supermarket chain stormed back during its fiscal first quarter, which ended in January.

Sales climbed by 7% during the period, propelled by a 3.5% uptick at the individual store level. The bottom line blew Wall Street away, with net income -- after paying preferred dividends -- soaring by 79%.

With the charismatic (and occasionally controversial) John Mackey as CEO, Whole Foods is going to chow down during this recovery.

Liberty Capital
Investors who want in on Sirius XM Radio (Nasdaq: SIRI) with a little less risk may want to look into Liberty Capital. This is the media conglomerate that lucked into a 40% preferred stake in the satellite-radio giant, solely for lending Sirius XM money when it was on the brink of bankruptcy last year.

The move paid off handsomely. Liberty's stake can be converted into nearly 2.6 billion shares, an investment that's worth roughly $2.5 billion, given Sirius XM's most recent close. In other words, Sirius XM accounts for well over half of Liberty Capital's $3.9 billion market cap.

What else is in Liberty Capital's portfolio? It's an eclectic collection including the Starz Media cable channel, location-determination specialist TruePosition, the Atlanta Braves, and minority stakes in a few media and telco companies. In other words, this is a pretty beefy company that will participate in Sirius XM's upside but has bountiful assets to protect it on the way down.

California Pizza Kitchen
Casual dining is on the rise, and California Pizza Kitchen just put itself on the bidding block. The chain is reviewing strategic options, which usually means it's time for private-equity firms to chime in with buyout offers.

Not that the pizza and pasta chain is broken. Comps clocked in slightly negative in its latest quarter, but its preliminary report on the quarter that ended earlier this month shows a profit of $0.10 a share, well ahead of its guidance from just two months ago.

Between its popular eateries and its premium frozen pizzas at the retail level, California Pizza Kitchen should be an attractive takeover candidate. Opportunistic buyers who can feel the economy turning -- and discretionary income trickling toward casual dining -- may find CPK tastier than its signature BBQ Chicken pizza.

Selling property, casualty, and life insurance may not seem like a sexy growth business, but let's put those actuary tables to work in China's booming economy. CNinsure is a rapidly growing insurance intermediary in the world's most populous nation.

CNinsure is rolling along nicely. Revenue soared by 37% last year, with earnings increasing even faster -- up 55% last year. This isn't a fluke. CNinsure expects to widen its gross margins this year, delivering bottom-line growth of better than 30% along the way.

China Life (NYSE: LFC) is the Chinese insurance play that most investors know well, but the same thesis of the country's booming demand for insurance policies applies just as nicely to a smaller, dynamic CNinsure.

Cedar Fair
Regional amusement parks are dusting off their turnstiles, but the start of the season isn't the only reason to warm up to operator Cedar Fair.

Realizing that it would never have been able to pull off its buyout at $11.50 per unit, Apollo terminated its acquisition offer last week. This is the kind of news that normally sends buyout candidates lower, but Cedar Fair's units have taken off since the deal became undone.

The reason is simple. The growth prospects for leisure companies are a lot healthier now than when Apollo approached Cedar Fair late last year. Cruise lines and multiplex operators have recently raised rates, and now come the regional parks after hibernating during the offseason.

Cedar Fair isn't perfect. It still has a cumbersome debt load. Management also needs to win back investor confidence after supporting the failed exit strategy. However, analysts do see earnings climbing by 28% to $0.88 a share this year, with an 18% spurt next year. The units trade at a welcome discount to that bottom-line revival.

Enjoy the ride!

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Longtime Fool contributor Rick Munarriz realizes that you don't know you've hit your peak until you're going downhill. He owns no shares in any of the stocks in this story and is also part of the Rule Breakers newsletter research team, seeking out tomorrow's ultimate growth stocks a day early. The Fool has a disclosure policy.