By Bill Taylor-CEO, Fintegration/FintekNews & CIO, TLC Capital Group
11/29/16 Daily Closing Analysis - NASDAQ Fintech Index (KFTX)
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Slight selloff. Another uninteresting day and no inspirations. So, with the overall NASDAQ composite up today led by just a handful of stocks, the NASDAQ fintech index KFTX went the other direction (down) and settled lower by 3.11 points at 1054.33 (-0.29%).
Here comes that ‘magic’ section that lets us all take a look at stocks in the KFTX index that had a 2 point move and/or a 3% ‘jigger’:
ADS -3.33 (228.71)
CATM -1.57 (48.79) -3.12%
ENV -1.35 (37.40) -3.48%
VIRT +.54 (13.90) +4.04%
Hmmmmm!! Only 3 had the urge to move. There were 20 issues up and 29 down today. There’s the story.
Rest of the week is looking like more of the same. Tomorrow 8:15 EST (Wednesday) morning brings ADP employment numbers, 167K est vs 147K prior (yawn) and OPEC wraps up a meeting. But fintech cares less about oil, so the next thing is Friday’s non-farm payroll (NFP) numbers which aren’t any big deal since the Fed’s rate decision is made. So, bring the pillow to work and have a great night.