This week's decline can be almost exclusively attributed to COBR's earnings announcement on Friday, which sent it down 20.38% in one day and 14.15% for the week. (It is worth noting -- caveat here as I'm not trying to 'pitch' an individual stock -- that this decline appears to be due to the one-time income write-off of $500M from an accounts recievable with a company that went bankrupt.) A comparison with the revised index, which I will start reporting next week, shows it only went down 0.14% -- stocks like MITK and AUGT weigh more heavily in that rebalanced group. EEM demonstrates that the foriegn stocks led the way last week. In short, it is good to see the recent slowing down and this weeks' 'corrective action' but given that is is limited to one stock, my guess is that may not have a lasting impact. My prediction is that the index will return to positive territory next week -- it is still quite a way off from where it began in July 2011.
Winners: AUGT 12.89%, GLUU 9.31%, MITK 5.18%, VELT 3.87%
Losers: COBR (14.15%), COOL (4.83%), VOCS (4.26%), NCTY (1.84%), EPOC (1.43%)
Comparison: DJI 0.61%, Nasdaq 0.13%, S&P500 0.56%, EEM 2.94%, FONE 0.65%
Upcoming earnings: 2/28 EPOC & VOCS EOD, 3/6 P EOD
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