Submitted by The Standard07.08.2008
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This prediction is closed and has been judged.
Judgment on August 7, 2008: The Internet Index appears to be weathering the current market ups and downs quite well (knock on wood). This prediction did not occur in the allotted timeframe. Judged at S$0. -- The Industry Standard
The NASDAQ Internet Index (QNET for short) tracks 77 different stocks that make their living off the Internet. Other than Yahoo!, Google, Amazon and eBay, no single stock makes up more than 5 percent of the index’s portfolio. Microsoft is not a part of the index due to its gargantuan influence.
The 52-week high for QNET is 162.69, while the low has dragged to 118.27. Today as of this writing, the index is +3.42 (2.70%) for the day at 130.02, according to Yahoo! Finance.
This is a prediction that by then end of trading on August 8, 2008, or earlier, the Internet index will bottom out at a yearly low of 115.00 or below during intraday trading.
In order for this prediction to be judged favorably, this low must be reported by Yahoo! Finance. The value does not need to be a closing price; intraday values at or below 115.00 will be considered the basis for a favorable judgment on or before August 8, 2008.
Bets will close on August 7, 2008, unless this prediction is closed sooner due to market events.
(Yogi "Bear" photo credit: Flickr / carbonated)
Prediction Statistics
| Betting Closes: | Aug 07 2008 | Current Consensus: | 0.95% | Total Bets: | 76 |
| Today's Change: | -0.32% | ||||
| Life Time High: | 61.06% | ||||
| Life Time Low: | 0.95% |
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QNET is such an odd index - there are hardly any decent charts for it anywhere. Even Yahoo Finance can only pull up a 5 day rolling chart. Be nice to have a chart for this prediction. And the Yahoo stock badge can't pull up the QNET at all. At least they have really good alert systems.
@Eric, yep i have the alerts set for dips below and rise above. Try this for better chart on QNET. Since inception of index, it has NEVER hit 115! Today it closed at 127.71.
I know, but 120 simply seemed way too easy of a target. :S
@Eric, on the contrary. I agree with the 115 setting. With the state of economy, the trickle down effect will show on Internet stocks. 115 is the perfect threshold to make this prediction more interesting.
Went as low as 118.39 this morning, but is rebounding.
September or .... October October October
After hours, most ^QNET components are in the red (some of which are significant losses)
AKAM -2.22%
AMZN -4.31%
ARTG -9.91%
BIDU -4.57%
DHX -2.42%
DIVX -0.96%
EBAY -1.74% (after shedding 13.88% today)
EGOV -3.13%
EQIX -1.12%
FLWS -0.96%
GIGM -1.56%
GOOG -7.63%
GSOL -1.86%
LQDT -3.23%
MELI -2.97%
NFLX --1.17%
OMTR -1.77%
PRFT -1.38%
SCOR -1.49%
SINA -0.98%
SDXC -1.18%
SFLY -1.38%
SKIL -0.92%
SOHU -2.73%
SVVS -1.02%
TMRK -1.54%
TSCM -1.54%
VOCS -1.23%
VPRT -1.13%
YHOO -1.07%
I suspect a significant downtick at open and continued pressure on internet stocks as quarterly reports will be pouring in from all ocrners of the internet. Consensus is that revenue will be fairly moderate if not worse than same quarter last year (GOOG, EBAY, MSFT already got hit). Suspect YHOO and AMZN to underperform as well.
Down 2.83% for the day. Closed at 124.38.
Was expecting more for today but it does look like it will continue to trend downwards. After hours continues to be negative. Expect Monday to slide further.
Sittting around 128.09 as of July 26, 2008. Trending up, albeit slowly.
Yep. Looks like Internet remained more robust than general economy. Oh well... win some lose some.
Uhm, not that I mind having the cash freed back up, but wasn't this judged a day early?
It's supposed to close today, but covers trading through close of market tomorrow as well.
Yep. I agree that this was prematurely (by a little over a day) judged although the chances of the result being the other way around is next to impossible.
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