Not even rising oil prices and Egyptian turmoil were enough to keep the Dow and S&P 500 from hitting new multiyear highs this week. For bulls these rallies may seem like dreams come true. For skeptics like me, they're opportunities to see whether companies trading near their 52-week highs really deserve their current valuations.
Keep in mind that some companies deserve their lofty prices. Massey Energy
The company faces stiff competition from Eli Lilly's
In a change of pace, rather than targeting one specific company, a commodity that is looking more speculative by the day is cotton, and the iPath Dow Jones UBS Cottton ETN
Cotton is currently trading at a 150-year high, and it appears very unlikely that prices can stay this inflated for a long period of time. Eventually, extra suppliers will step in, and that supply should drive these speculative prices lower. This is a commodity exchange-traded note that's priced for perfection.
Liquefied natural gas producer Cheniere Energy
Have an opinion on any of these companies? Let's hear about it in the comments section below!