Cash levels soar to a NEW 2016 high yesterday.Another high today because of a $102.10 dividend credit with no new trade.

Outlook for KLCI component stocks - 16 Aug 2016

Ambank - Bullish              : Base built, chasing dividend

Astro     - Neutral/bullish  : possible bullish triangle,awaiting 3.00 breakout

Axiata   - Bullish               : unfolding bullish flag

BAT      - Neutral/bullish  : Probable 2.00 upside

CIMB    - Neutral               : 4c upside to fairly strong resistance

DIGI     -  V Bullish            : High tight flag

Genting -Neutral/bullish : Irregular base + 19c possible upside

GenM   - Neutral              : trendline support holding

HLBank - Neutral/bullish: 13.00 support held,base possibly nearing completion   

HLFG    - Neutral              : 15.00 support held,1.30 gain since then may need to be consolidated

IHH       - Neutral/bullish  : Upward bias after 10 mth consolidation between 6.30-6.70

IOICorp -Bullish               :Previous call panned out; bullish flag developing

KLCC    -Neutral              : Previous call panned out;further consolidation looks likely

KLK       -Bullish              : flatline base building support

Maybank-Neutral           : 8.00 broken but could be bear trap

Maxis     - Neutral            : Previous call panned out;6.40 resistance imminent

MISC     - Bullish             : Previous call panned out; no change

PChem  - Neutral/bullish: Bullish bias after base built

PetDag -  Neutral/bullish: Bullish bias after base built

PetGas - Bullish              : Possible c & h

PPB      - Neutral            : One day drop to strong support ; no discernible pattern

PBBank - Bullish            : Previous call on the mark; no change

RHBBank - Neutral/bullish: Possible rebound back to 5.10 resistance

SKPetro  -  Neutral         : Previous call spot on; immediate resistance at 1.60

Sime       - Bullish           : Previous call wrong ; upside breakout from  2 month base

TM          - Neutral/bullish:Ascending triangle turned into a longer base

Tenaga   - V Bullish         : Previous call spot on; continues

UMW      - Neutral          : Previous call wrong; turned into upside breakout from high tight flag

WPRTS  - Neutral          : Breakout yes, but hit a brief high & retreated

YTL         - Neutral/bullish: Bullish triangle/pennant developing

V Bullish = 3

Bullish = 2

Neutral/bullish = 1

Neutral =0

Neutral/bearish =-1

Bearish = -2

V Bearish = -3

RATING = +32 ( moderately bullish )

My cash levels rise to a new high watermark for 2016, over $22,000 higher than the low point(10 Jul) in the last two months.

Sold 60% of my FGV bought for 1.90 in June last year at prices ranging from 1.94 to 1.99 throughout the day, on the assumption that the round number 2.00 won't be cracked in the short-term given the stock's stellar rise in the last few weeks. Maybank's break of another round number - 8.00 - in the other direction, worries me and in my estimation, it's safer to be a BEAR until the middle of the month!