Mobile App Index: 64.77 +5.61% WE 6/22/12

Not sure what to say about last weeks' predictions.  Given the average of Nasdaq, DJI and S&P500 you could say that one was correct, but for the MobiAppIndex the prediction was wrong as it clearly underestimated this weeks' gains.  One technical charting analyst indicated that likely we were due for a sharp uptick this past week -- they called it a 'head and shoulders' pattern (the sharp increase being for the sake of graph symmetry) -- and while it may fit for the MobiaAppIndex there seems to be less of a symmetry for the major indices.  Dunno about the value of symmetries, and you can't see it very well with these weekly data points, but there it is. 

My prediction for next week is that everything will go upwards, because we have reached the market bottom and the focus will shift towards making up the ground lost since April for the major indices and since February for the MobiAppIndex.  Symmetry or not it appears that we are about to move off of the market bottom.  I do not predict a major upwards trend, however, as the overall investment market will not forget about the simmering Europe debt crisis and we are approaching the summer investing doldrums.

Once again MITK was the biggest winner, and was followed by a broad list of strong winners.  On the declines side it was very minimal, so this weeks' gains were strong and across the board.

Winners:  MITK +33.67%, NCTY +17.92%, VOCS +14.1%, VELT +9.46%, COOL +5.99%, GLUU +3.64%, EPOC +2.82%, P +2.05%, COBR +1.12%

Losers: AUGT (2.2)%, ROVI (1.56)%

Comparison: DJI (0.99)%, Nasdaq +0.68%, S&P500 (0.57)%, EEM (3.02)%, FONE (1.3)%