Last weeks' prediction was easily achieved, and the major indices went with it by getting very close to a sideways state this week. In the past 6 months or so since 11/17/2011 the DJI is up only 3.89%, Nasdaq 5.26%, and the S&P500 is up 4.48% and since that fateful time period of 4/3/2012 they have declined 6.75%, 10.92% and 8.73% respectively. By comparison, the Mobile Application Index is down 16% since 11/18/2011 and 17% since 4/6/2012, and it is down 30% from its' high on 2/17/2012. I don't think that the major indices have hit their bottom point yet, but I am not sure about the Mobile Application Index. Earnings season for the index is almost complete, but neither COOL nor NCTY have announced their earnings or a date they intend to report them. Coming up P, whose earnings I expect will not be received negatively -- it was the biggest winner this week.
VELT declined 25.71% after its' earnings announcement despite showing an increase in revenues and profitability. The only explanation I could find indicated that decreased cash on-hand was the reason. But the biggest loser this week was MITK as it declined 26.81% this past week (there is no news to be found about the stock this week) and now down 87% since 3/30 when it traded at $11.60 -- it closed today at $2.02.
Winners: P 5.51%, EPOC 2.49%
Losers: MITK (26.81)%, VELT (25.71)%, NCTY (16.96)%, VOCS (10.88)%, COOL (8.72)%, GLUU (7.21)%, ROVI (6.53)%, AUGT (3.26)%, COBR (3.1)%
Comparison: DJI (3.52)%, Nasdaq (5.28)%, S&P (4.29)%, EEM (6.67)%, FONE (5.24)%
Earnings: P 5/23 5pm ET
Its very Deficient dawn fall. How this will increase ?
ReplyDeleteMobile Application Development
Thank you for the very good question. I think it was 'google' translated, but I get the idea. I will try to put together some thoughts on this later in the week. My first thought on this is: these stocks are considered 'small cap' and speculative, so we should expect much more volatility from them than from the DJI stocks. Therefore they will rise when the overall downward pressure on the markets goes away. Also I don't want to sound like I'm making any specific investment recommendations -- this index is meant to focus on the emerging Mobile Application technology space from the perspective of the stock market. More later...
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