Friday snooze. Someone called and said the markets were open today (Friday) but I thought they were kidding. But they were open, if you call that open. Anyway, the KFTX managed to sneak upwards to finish the week at 1065.04, a gain of 3.83 points and a rocking +0.36%. Not the robust Santa Claus rally some expected, but a good napping day.
I will pull up the list to see which stocks got out of bed this morning and if any had the strength to move 2 or more points and/or 3%.
BOFI +.87 (28.95) +3.10%
DNB +4.37 (123.27) +3.68%
Now that’s surprising. Not that there were only 2 stocks with big moves, BUT that there were ANY issues moving. There were 33 issues up, 14 down and 2 unchanged. That’s it. Happy holidays to all.
Stagnant week in the fintech sector. Looks like some of those stocks were naughty cause Santa didn’t come down the KFTX chimney. In fact, after some initial upward pushing the index pulled back and finished lower on the week falling 2.63 points (-0.02%) to 1065.04. Didn’t take out the index’s highs AND closed lower on the week. Caution light flashing bright yellow out there.
Let’s see which of those 49 issues had some significant (+ or – 3%) moves this past week.
BOFI +3.99% (28.95)
CBOE -3.18% (73.40)
CME -4.38% (116.92)
ENV -3.69% (35.20)
FLT -3.11% (143.44)
MKTX -8.97% (149.41) Biggest % loser of the week
PAY -4.16% (17.87)
RATE +7.18% (11.20) Biggest % gainer of the week
SPGI -3.61% (109.02)
Short list for a full week with 29 issues up, 26 down and 3 unchanged.
So, if last week was slow and dull wait till this week. Only 4 trading days and not many people around. Expect very VERY quiet days. It seems that everyone will be fixated on Dow 20,000……..big deal. Nice number, doesn’t mean much except to the media talking heads. On the KFTX, the 1076-1078 area may be the top for a while. Caution is in order. Hope the weekend was good and have a nice week.