Nearly 500 companies hit new 52-week highs on the NYSE Wednesday as this rally continues to sprout new legs and shrug off any weakness. For bulls, these rallies may seem like a dream 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. Discount grocer Family Dollar
Biotech Forest Labs
Unfortunately for Forest Labs, both drugs are due to come off patent within the next four years, meaning generic competitors Teva Pharmaceutical
You've got mail
I have a hard time remembering the last time I mailed anything, but Pitney Bowes
Look up here
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Fool contributor Sean Williams does not own shares in any companies mentioned in this article. Although he is an avid shorter, he's actually quite tall. You can follow him on CAPS under the screen name TMFUltraLong. The Fool owns shares of Teva Pharmaceutical. 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 goes off patent.