The AlwaysOn X Fund portfolio advanced 3.6% for the week, while the NASDAQ was up 3.7%, and the S&P 500 was up 3.8%. For the year, the AO X Fund portfolio is up 6.9%, the NASDAQ is down 1.6%, and the S&P 500 is down 0.9%.

Apple presented its new iPod lines with the iPod Touch 4G now having Facetime video calling. Also introduced was the new Apple TV for $99 that lets users watch shows for 99 cents and also connects to Netflix and YouTube. For the week, AAPL advanced 7.1%.

The AlwaysOn X Fund portfolio advanced 5.3% for the week, while the NASDAQ was up 4.1%, and the S&P 500 was up 3.1%. For the year, the AO X Fund portfolio is up 5.7%, the NASDAQ is flat and the S&P 500 is down 1.1%.

All our companies reporting last week posted positive results supported by strong growth. New Oriental Education beat expectations by 2 cents, posting 114% EPS growth and 45.8% sales growth. Apple beat expectations by 40 cents, posting 160% EPS growth and 61.3% sales growth. VmWare beat expectations by 2 cents, with Q2 EPS up 70% and sales up 48%. Management guides up for Q3. Baidu.com beat expectations by 4 cents, with EPS down 78%, while sales were up 74.4%. Management raised its Q3 guidance. F5 Networks posted 5 cents better-than-expected EPS results, up 65% YoY, and sales up 45.7%. FFIV raised its Q3 outlook.

The AlwaysOn X Fund portfolio dropped 1% for the week, while the NASDAQ was down 0.8%, and the S&P 500 was down 1.2%. Year-to-date, the AO X Fund is up 0.4%, the NASDAQ is down 4%, and the S&P 500 is down 4.5%.

Google missed its EPS estimates for Q2 by 7 cents, reporting 20% EPS growth and 24% sales growth. The weakening euro hurt earnings as a third of Google's sales come from Europe. Additionally, expense growth is accelerating with 2,000 new employees in the second half of the year, while sales growth is decelerating. The average price-per-ad click grew only 4%. Competition from Facebook is also pulling Web traffic and advertising dollars away from GOOG. For the week, GOOG dropped 1.7%.

The AlwaysOn X Fund portfolio advanced 6.2% for the week, while the NASDAQ was up 5%, and the S&P 500 was up 5.4%. Year-to-date, the AO X Fund is up 1.4%, the NASDAQ is down 3.2%, and the S&P 500 is down 3.3%.

Google announced that the Chinese government renewed its license to operate in the world's most populous country, but did not disclose which services it will offer. A few months ago, Google started redirecting users in China to an uncensored Hong Kong search site. For the week, GOOG advanced 7.1%.

The AlwaysOn X Funed portfolio dropped 7.2% for the week, while the NASDAQ declined 5.9%, and the S&P 500 was down 5%. Year-to-date, AO X is down 4.5%, the NASDAQ is down 7.8%, and the S&P 500 is down 8.3%.

Google purchased airline data company ITA for $700 million. In the last months, ITA had been the subject of interest among Microsoft, Kayak, and Expedia. With this purchse, it's obvious that Google will enter the online travel space very soon. For the week, GOOG dropped 7.6%.

The AlwaysOn X Fund portfolio dropped 3.4% for the week, while the NASDAQ declined 3.7%, and the S&P 500 was down 3.6%. Year-to-date, the AO X Fund is up 3%, the NASDAQ is down 2%, and the S&P 500 is down 3.4%.

Financial IT provider Longtop Financial secured a new contract with a rural commercial bank in east China—the first in that region—to provide CRM solutions. LFT is the Chinese market leader in that space, with a market share of 18/4% in 2008, according to IDC Research. For the week, LFT was nearly flat, down 0.1%.

The AlwaysOn X Fund portfolio advanced 4.4% for the week, while the NASDAQ was up 3%, and the S&P 500 advanced 2.4%. Year-to-date, the AO X Fund is up 6.7%, the NASDAQ is up 1.8%, and the S&P 500 is up 0.8%. Demand-response smart-metering provider EnerNOC led the AO X Fund portfolio, up 15.1% for the week. On Monday, ENOC secured a 10-year contract with the Tennessee Valley Authority for the deployment of 560MW demand-response resources.

For the week, the AlwaysOn X Fund portfolio dropped 3.5%, while the NASDAQ was down 5%, and the S&P 500 was down 4.2%. Year-to-date, the AO X Fund is down 0.5%, the NASDAQ is down 1.8%, and the S&P 500 is down 2.5%.

For the week, the AlwaysOn X Fund portfolio advanced 5.6%, while the NASDAQ was up 3.6%, and the S&P 500 was up 2.2%. Year-to-date, the AO X Fund is up 3%, the NASDAQ is up 3.4%, and the S&P 500 is up 1.8%.