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!
Fool contributor Sean Williams does not own shares in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy which never needs to be sold short.