By Bill Taylor-CEO, Fintegration/FintekNews & CIO, TLC Capital Group
10/18/16 Daily Closing Analysis - NASDAQ Fintech Index (KFTX)
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Happy relief bounce. The NASDAQ KFTX intech index got a reprieve today and rallied to close up 7.64 points to 1016.73 (+0.76%). A sigh of relief or has the KFTX seen the bottom of the sinkhole? We will see, but I have heard that the authorities tell evrybody “do not go near the sinkhole as it can collapse again any time”. Anyway, KFTX is up today and it’s a win.
There were several more stocks (8) that experienced a 3% intraday move today with all but one being up. Three actually held the gains while others softened throughout the day. Lets take a look; BOFI up .16 to 21.95 (+0.73%); FDC closed at 13.73 up 0.45 (+3.39%); HAWK plus 1.50 to 36 (+4.35%); RATE up .15 at 7.75 (+1.97%); SQ higher by .41 to 11.34 (+3.75%); TSS at 48.31 up 1.30 (+2.77%); VIRT up .10 at 13.65 (+0.74%); and…AND (oh my, again) LC off .08 to 4.91 (-1.60%). If it weren’t just so darn cute down here it would drop off our list. Sucker for the downtrodden I guess.
Only 2 of the index’s issues had a 2 point move today. Both up as well. ADS jumped 4.62 to 211.07 and MKTX rallied 2.46 to close at 154.75. Like to see more big movers participate on a daily basis.
Rest of the week? Possibly just like today but perhaps on the downside. That’s been the pattern for a while now. Have a great evening.