The prediction was incorrect for the MobiAppIndex -- and it appears that the 65 level really is somewhat of an inflection point or threshold as we're seeing another one of those technical head and shoulders patterns forming. This time the pattern stretches out over four months, and it is really quite jagged, but I think we're continuing to see a decrease in volatility of the overall index. While I can't tell exactly when this will happen, I am still standing by the overall prediction that this pattern will be broken and the index will climb upwards. To characterize this weeks' decline, we actually see six (6) of the stocks in strongly positive territory, where four (4) were strongly negative -- two of which were very sharply down. P fell sharply this week on rumor news that AAPL would be entering this market with their own competitive offering -- it would appear that AAPLs litigious nature may have spelled the end of their usefulness but what do I know! On the streak side, we have COBR in its' 4th week in positive territory -- a real sleeper of a stock IMHO.
Relative to the main indices, EEM climbed dramatically this week on news that Europes financial support is stronger than previously thought as the ECB clearly stated their position. The US indices followed, but flagged at the end of the week on no-so-positive jobs news -- it appears that much of the decrease in the unemployment rate was due to folks giving up on their job searches.
Winners: VELT +5.34%, ROVI +4.04%, MITK +3.08%, COBR +2.43%, COOL +2.35%, EPOC +1.01%
NOTE: MM which will be added into next weeks' calculation would have been this weeks' winner with a gain of 8.66%. VRNG will also likely be added into the entertainment category.
Losers: P (12.68)%, AUGT (10.71)%, GLUU (3.96)%, VOCS (1.49)%, NCTY (0.64)%
Comparison: DJI +1.12%, Nasdaq +2.16%, S&P500 +2.75%, EEM +4.45%, FONE (0.28)%
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