Much ado about foreign investors

Chart of the day for the EWMs, the easiest way for a foreign investor to get exposure to the Malaysian markets.

Thinkorswim EWM charts

Foreign investors haven't been net buyers or sellers during the pullback from $12 to $11.7. In fact, they have more or less been even. Yes, I'm surprised the market didn't back down off $12, but that just means we have upward momentum until we reach a price point where sellers come back in.

I don't think we are reaching new highs for the year for the overall indices. Malaysia may reach $12.30 which would translate to roughly an additional 1-1.5% or 1360-1370. The risk/reward trade off for ewm shorts are becoming more prevalent at this level and into the 1360s.