With the S&P 500 still off 30% since late 2007, it's been a wobbly few years for all of us in the investing community. With many stocks still below their highs -- some deservedly, some less discriminately -- the important question becomes "How can we separate disasters from the very real opportunities that are out there right now?"

A great place to start looking is a pool of the favorite stocks of our 165,000 person-strong Motley Fool CAPS investment community. These stocks have the most bullish support, weighted by each player's ability.

With that approach in mind, I used our new CAPS screening tool to pick out some strong names from CAPS community's most beloved stocks. Let's look at seven names that have fallen 30% or since the market's 2007 high.

They also have:

  • Three-year annual revenue and earnings-per-share growth greater than 5%, indicating that their businesses haven't totally imploded since the market peak
  • Five-star ratings, the highest possible, from our CAPS community.

Since CAPS' launch at the start of 2007, four-star companies outperformed the market by more than 25%. Five-star stocks did even better.

Company

Return Since Oct 12, 2007

3-Year Revenue Growth

3-Year Earnings Growth

CAPS Rating

Hologic (Nasdaq: HOLX)

(57%)

38%

43%

*****

Net 1 UEPS (NYSE: UEPS)

(55%)

9%

6%

*****

National Oilwell-Varco (NYSE: NOV)

(52%)

17%

19%

*****

Fluor (NYSE: FLR)

(43%)

14%

34%

*****

Morningstar (Nasdaq: MORN)

(37%)

13%

13%

*****

Atwood Oceanics (NYSE: ATW)

(35%)

22%

32%

*****

Kinetic Concepts (NYSE: KCI)

(35%)

12%

6%

*****

Data from Motley Fool CAPS and Capital IQ, a division of Standard & Poor's, as of June 13, 2010.

Of course, screens are merely a first step in the stock-selection process. Come and join us absolutely free on Motley Fool CAPS to dig into these companies further. Let our 165,000-strong (and counting) CAPS community help you identify the best opportunities today.

At the time of publication, Fool editor Ilan Moscovitz didn't own shares of any stocks mentioned. Net 1 Ueps Technologies is a Motley Fool Rule Breakers selection. Atwood Oceanics, Morningstar, and National Oilwell Varco are Motley Fool Stock Advisor picks. Net 1 Ueps Technologies is a Motley Fool Global Gains recommendation. The Fool owns shares of Kinetic Concepts and Morningstar. The Motley Fool has a disclosure policy.