Activision Blizzard (ATVI) is under pressure this afternoon. At the time of this writing, a quote of $10.95 came by on the ticker. This was representative of a 6.8% decline in share price. And volume was very strong.

Second-quarter numbers were released yesterday after the bell. According to Reuters, adjusted net income of 6 cents per share came in a penny ahead of the estimate. Unfortunately, third-quarter guidance wasn't so hot: management predicts the business can make somewhere around 8 cents per share, also with adjustments, during that frame. This number was four pennies under Wall Street's expectations. Another problem for the publisher during the second quarter was the top line. It was relatively weak.

Activision Blizzard (ATVI) has had a rocky ride over the last year. The following chart illustrates the sideways motion of the video-game superstar's stock. The 52-week range has been a narrow one: the low is $9.93, and the high is $13. Lately, the shares have received a new burst of energy after falling to the $10 level in May. At the time of this writing (it's a little over one hour until the market closes up shop), a quote of $12.02 went by on my screen.

A catalyst currently exists for the publisher. StarCraft II: Wings of Liberty is set to be released on Tuesday. This is the highly-anticipated game from the Blizzard portion of the company. And when I say highly-anticipated, I mean it.

Take-Two Interactive (TTWO), whose competitors in the video-game industry include Activision Blizzard (ATVI) and Electronic Arts (ERTS), is doing good business with its Red Dead Redemption title. But is that enough to make you want to buy the stock?

According to the AP, the game sold 1.5 million copies in the month of May. That's relatively impressive, but it unfortunately did not meet the expectations of Michael Pachter, who is an analyst for Wedbush Morgan. He was thinking 1.8 million copies was doable. Even so, you have to hand it to management for a robust launch.

Take-Two Interactive Software Inc. (TTWO), whose competitors include Activision Blizzard, Inc. (ATVI) and Electronic Arts, Inc. (ERTS), has traded in a narrow range over the last twelve months. The 52-week low on the stock is an even $7; the 52-week high is $12.57. The stock closed Tuesday's session at $10.52. After the bell, the video-game publisher reported results for the second quarter. Shareholders can be thankful that the bottom line experienced a significant improvement.

On an adjusted basis, the company made 34 cents per share from continuing operations versus a loss of 4 cents per share from continuing operations in the year-ago period. Net revenue jumped over 50%.

It's a tough trading and investing environment out there. But you've got to hang equally as tough and start processing as many stocks that are at or near 52-week lows as you can. Sure, you might be early, but then again, who can predict with any certainty where the market is heading? I know I can't.

Electronic Arts (ERTS) is not my favorite video-game company. That honor goes to Activision Blizzard (ATVI). Nevertheless, here's something of note: it closed Monday's session at $15.36. This after hitting a new 52-week low of $15.34 during intraday activities. Volume was about average.

I want to buy something today. I haven't yet, but I really just want to get in there and get something. Here's what's stopping me:

Uncertainty. Yes, the dreaded unknown, the beast that is lurking around the corner, the one that might look an awful lot like an angry ursine monster. The way the market is falling, I get the feeling we could be in for a rough summer. There's no way of knowing, of course; stocks could return to bull-mode status tomorrow. Seriously, though, does it honestly feel that way? I'd be shocked if anyone could proffer such a sentiment with unwavering truthfulness.

We all talk about the fundamentals behind an investment idea, but sometimes you have to pay more attention to the observed price action. That's what I was thinking today while checking out Activision Blizzard (ATVI).

I have been watching this publisher of entertainment software closely as of late, wondering if it was time for me to get back in. Compared to other similar companies such as Electronic Arts (ERTS) and Take-Two Interactive (TTWO), I think Activision Blizzard offers the best potential for both the console market and online gaming.

We all have our watch lists. I'm no different. Here are four companies that I monitor almost every single day, and a brief opinion on each of them.

Activision Blizzard (ATVI): I sold this one back in January. Some believe I was wrong to do so. I definitely comprehend the sentiment, because really, this is the best publisher in the sector. Compared to Electronic Arts (ERTS) and Take-Two Interactive (TTWO), Activision Blizzard has an enviable pipeline. Unfortunately, the video-game industry isn't firing on all cylinders; check out the most recent monthly-sales report, and you'll see what I mean. In addition, the company's Guitar Hero franchise isn't the fad it once was. I do want to get in on the stock again, though; lately, the price seems to be perking up. I'm not ready to send in the buy order just yet. I'm waiting for further strength to materialize in the shares.

Take-Two Interactive (TTWO) is the kind of stock I want to take a chance on but just can't bring myself to do so. The situation can be risky unless a fresh bit of Grand Theft Auto content is about to come out into the marketplace. Then again, those who bought ahead of the Q1 earnings report, released yesterday after the bell, are pretty overjoyed this afternoon, seeing that the stock is, at the time of this writing anyway, up well over 9%.

Net sales increased 9%. The adjusted loss from continuing operations was 31 cents per share. Last year at this time, shareholders were looking at a loss of 56 cents per share on the same basis. Reuters says the analyst call was for the red ink to equal 51 cents per share. Good job, management.