new high possible

Resmed in the US has made intra-day new highs in approx 6 of the last seven sessions. New highs are yet to be established here but today may be the day going on strong US action again overnight although volumes have not been as high as usual. I feel though that two things are playing on the price here - the exchange rate and the high p/e. A few weeks ago when the yankee dollar was stronger the exchange rate would have the aussie RMD in the 6.70 to 6.80 range by now. Plus the sp is getting a bit pricey on a p/e basis which may eventually make it quite vulnerable to some sharpish mood swings. Still can't complain, it has been a pretty good ride this past few weeks or so.