Anyone care? I use to look at this kind of thing, but I would usually look for a consolidation then a break before buying. But I suppose a guy could just buy above the previous day's high. It's fun to look at these things. I've just never been able to make it work over the long run.
IMHO the number of lower highs just means it's a strong downtrend and that you should wait for confirmation before going long (e.g. at a MINIMUM wait for price to close above the 10 DMA) or even the 20 DMA to be more conservative. for ex, AAPL has not closed above the 10 DMA since 6/6/13. for ex, WLT (another stock making a string of new lower highs although there are a few intraday higher highs) has not closed above the 10 DMA since 5/22/13.