Predictions were correct on both counts: it was a less than 3.2% drop for the index and the major indices did not climb as high as last week. But the loss for the MobiAppIndex was rather mixed -- 5 stocks gained, while 5 lost this week. COOL announced earnings this week and proceeded to consistently decline towards the end of the week. AUGT announced some sort of 'pre-earnings' update on Tuesday, which prompted a continuous decline following. Lastly P declined after an analyst report about a competing service gained some buzz from their latest iPhone offering on Tuesday or Wed -- it is back on the upswing again now. There is a fickle nature to these stocks as the slightest indication of economic troubles in Europe as we saw on Monday will trigger a quick, steep slide. MITK turned in its second week as the biggest winner, and has gained 48% in that time. Now that earnings have completed for a while, with the possible exception of a 7/10 11am ET update from AUGT, I predict that the volatility will continue to slow for the index and I expect it to go up less than 1%. For the major indices, I think that the Euro crisis will continue to simmer on low and expect that it will go very slightly upwards or experience a slight decline of less than 0.5%.
Winners: MITK +23.01%, GLUU +4.71%, VELT +2.94%
Losers: COOL (20.48)%, NCTY (10.62)%, AUGT (9.9)%, ROVI (9.7%), P (3.08)%
Comparison: DJI +1.7%, Nasdaq +0.5%, S&P 500 +1.3%, EEM +2.85%, FONE +0.27%
Upcoming earnings: AUGT 7/10 11am ET
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