Wavy lines and flickering on new build

Ok I'm not sure if this is a video card problem or a moniter problem that I'm having. As said a million times here on the forum I built my own computer for gaming bla bla bla. I went with a Radeon 6970 video card from Gigabyte. I have a 19" LCD screen for now from my old computer. When I play games or just in the Windows 7 screen in general there seems to be wavy lines across the screen and it seems to flicker a little to. Its hard to explain but the only way I can explain it is that it is like the big old hunk of junk CRT moniters that would often have wavy line throughout the screen. I have a HP on the other desktop with a Radeon 5570 and the exact same model LCD moniter set at the exact same resolution and this isn't a problem at all. I had that same HP hooked up to this moniter I'm talking about and again no problems. I didn't notice this wavy lines and "flickering" until I built and hooked up this new computer. So what do you guys think it is? Is it the moniter going or is it a defective veideo card?
My first guess (and this is a stab in the dark) is that you are running an analog signal (VGA connector) and there is interference somewhere (like from your computer).

As this is a very unlikely event running such nice hardware I would go test the monitor on another computer using the same cables to determine if it is a bad cable or monitor. If it works fine on another machine then it is RMA time for the card.