Mobile App Index: 62.89 +2.6% WE 8/10/12

Overall the index moved a bit higher than expected again, but the movement was broader than in previous weeks -- all but two of the stocks ended in positive territory (including the soon to be added MM.)  This is the third week in a row in positive territory for the MobiAppIndex and FONE.  For the Major indices, this represents the seventh week in a row in positive territory for the DJI and S&P500 and the fourth week in a row for the Nasdaq and EEM.  Next week we'll continue with the same prediction:  a slow upward trend for all of the indices. 

All of the earnings reports resulted in positive gains. VELT, who won top honors this week, curiously has not announced their earnings yet -- that's next week! 

Upcoming earnings: VELT 8/14 3:30pm ET, NCTY 8/23 9PM ET

Winners: VELT +18.78%, GLUU +11.95%, EPOC +9.72%, VOCS +7.75%, P +5.86%, MITK +3.56%, ROVI +1.93%, COOL +1.76%, NCTY +0.22%
NOTE: if MM were in the index, it would take top honors with a +51.6% gain.  Last week it was the biggest loser.

Losers: AUGT (19.25%), COBR (0.21)%

Comparison: DJI +0.82%, Nasdaq +1.48%, S&P500 +1.07%, EEM +1.79%, FONE +1.81%

The graph is now past both moving averages.  Can we call it a trend?