Buying 52-week highs?

[Brian Gaddis <bngaddis@xxxxxxxxxxxxxx>]

Interested in opinions on buying stocks at 52-week highs.
Some writings encourage this kind of "buy strength"
strategy. What do you think of this philosophy?

If you agree that it is profitable, what do you look
for when you open a chart of a stock trading at its
52-week high?

What kinds of indicators, patterns, etc. do you
use for confirmation that the trend really has legs
and is likely to continue? Exit strategies?


Thanks,
Brian