Where has Money Been Moving Into?

Over the last few weeks money has been moving into the following ETFs in a big way.
I'll let the charts speak for themselves but basically it's Asia that's being bought such as China, Korea and Thailand. (click charts to enlarge)

EEM: New High For The Year

Lately I've been posting about how strong EEM is, well today this ETF made a new year high. EEM, EWM ILF all are making new highs for the year and are outperforming the S&P, NASDAQ and the Dow.

FXI: Watch This ETF

I bought FXI near the close today. As you can see in the above daily chart, this ETF has been consolidating for about 2 months on declining volume. Notice how the 50 day moving average has been providing support for FXI.

In the lower panel is the ADX indicator. Right now the ADX is at a very low level which was last seen in September right before the big up move began. Many times low ADX readings give birth to trending moves but the trick in using this indicator is knowing how to apply it. You want to use low ADX readings on momentum stocks combined with a chart pattern. What I like about FXI's pattern is that for the past 7 weeks we've seen lower highs and higher lows. Today for the first time in 7 weeks FXI made a higher high which tells me that maybe buyers are being more aggressive here. FXI is also in an uptrend so I think it's worth buying here. My stop is below last week's low. The risk is low and the reward is high. I'm all in!

Metals Surge

Yesterday I was hoping we would get another day of selling so I could add to my long gold position but instead the metals exploded higher. Gold was up over 21 dollars for the April contract and Silver was up 39 cents. This is the largest daily gain for both markets in quite sometime.

Above we have a daily chart of the ETFs for Gold and Silver. Both of these ETFs posted their highest close in eight months. I'm still looking for GLD to test the highs from last may which comes in at 72. All my trailing stops were raised today to the lowest low in the last 15 days.

EEM Update

I've been short EEM for a few weeks. The trade started off with an immediate nice open profit but has turned into a loss. EEM made a new high close today so I took the trade off.

Update on XLE and EEM

I covered another third of my XLE short position on the close today. Crude oil and XLE have had such a nice down move, how could I not take some.. So now I am holding just a third of my original position.

EEM I still like on the short side. I just put that position on the other day and it was down 2 dollars at one point today but rallied with the rest of the markets in the afternoon. I'm going to hold this position for awhile because this is a long term trade.