By Bill Taylor-CEO, Fintegration/FintekNews & CIO, TLC Capital Group
10/25/16 Daily Closing Analysis - NASDAQ Fintech Index (KFTX)
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Fintech turns “blah”. The NASDAQ KFTX fintech index decided to slip back down today in a slight reversal of yesterday’s slight gain. Slight (gain or loss) is the new word for “blah”. So, closing at 1022.10 the index lost 6.81 points (-0.66%) and is kind of just hanging out for now.
Today is just full of 3’s………3 stocks moved +/- 3% intraday and 2 managed to finish with a 3% move and 1 cut its loss (well, it made sense earlier); CLGX went up 1.49 to 40.80 (+3.79%); ENV dropped 1.40 to 36.10 (-3.73%); and HAWK lost .45 at 35.85 (-1.24%). Very small number of issues playing in this market.
Let’s take a look at any big (2 points) movers today. Oh yeah, we got 2 of them. ADS (203.90) -2.59; and FLT (172.90) -2.63. Like I said, blah.
Probably more of the same the rest of the week so don’t forget your pillows and GO CUBS. ( I don’t know anybody in Cleveland anyway). Have a great evening.
** For our international readers, its baseball’s World Series here in the U.S. The Cubs (Chicago) are playing the Indians (Cleveland) and neither one has been in this big series for over 70 years.