Mobile App Index: 61.21 (3.93)% WE 7/13/12

Overall predictions were mixed -- two of the major indices went up very slightly (which was predicted), one went down, but the MobiAppIndex took a dive.  FONE went down significantly this past week -- HTC had a bad week, RIMM is probably not going to make it and Compal appears to be sucked into all of the Apple manufacturing-related PR spin-doctoring.  AUGT was met with a yawn on their earnings, which turned out OK relative to the rest of the stocks in the index.  Unlike last week where the index was trending down at the end of the week, the MobiAppIndex was trending upwards at the end of this week  -- in any case I maintain my prediction from last week which is a slow upwards climb for both the major indices and the MobiAppIndex.  GLUU ended its' 5-week upwards streak, and the only winner was EPOC this week.

Earnings season will be starting again.  This stuff often comes out randomly but I will try to stay on top of it in the coming weeks.  Expect to see more volatility -- sometimes very telling trends -- on these stocks.  Here's what I've got so far:
Upcoming earnings: VOCS 7/24 4pm EDT, EPOC 8/7 5pm EDT.

Winners: EPOC +1.39%

Losers: COOL (11.76)%, MITK (9.81)%, NCTY (8.96)%, VELT (8.99)%, ROVI (4.89)%, VOCS (3.17)%, GLUU (3)%

Comparison: DJI +0.04%, Nasdaq (0.98)%, S&P500 +0.16%, EEM (0.7)%, FONE (4.08)%

While I try not to over analyse something like a graph, I can't help mentioning that the "Head and Shoulders" prediction of one technical analyst appears to have turned out wrong.  If my prediction is correct, we may continue 'dragging' along the bottom here for a while as this appears to be a solid test of the market bottom.  Also this dragging should reveal some sort of slow moving but solid direction for the market -- up, flat or down -- I'm predicting slowly upwards.  The reasoning for this is that I believe the market is undervalued overall (see below for a simple comparison).

This graph (above) shows that GDP is now moving above where it was before "The Great Credit Default Swap Gambling Loss" (TGCDSGL) took the entire world's economy down.

The graph (from Google) below shows that only the Nasdaq is moving above where it was B.TGCDSGL.  To me this means it is time for folks to dial-in and calibrate their financial measures as we may be seeing a 'descrepancy' that needs explaining.  This is why I believe the markets are somewhat undervalued.