ASX Morning call 12th July, page-18

Had had the right plan, was stopped at entry after the spike to and small reversal from overnight highs. Only saw 5 points of profit and it immediately continued the move higher. Has happened a few times now. Yesterdays highs are holding I think if they go will hit some stops and maybe look at sells at 6295. If you are short nothing to do till yesterdays highs go and then you can re-think risk. I do believe this will all come off but the AUD dropped a little more and oil recovered about 1.5%. Overseas investors are buying the banks and there will be more buying if that is the theme as more Asian markets come online.

I have an alarm for 6290.