By Bill Taylor-CEO, Fintegration/FintekNews & CIO, TLC Capital Group
9/28/16 Daily Closing Analysis - NASDAQ Fintech Index (KFTX)
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Up a touch more. Fintech lagged the energy sector BUT the KFTX closed higher at 1043.42, up 3.48 points (+0.33%). Seems the last week or so the forty nine stocks in the index have become, shall we say, a bit docile.
With that lead in, only three stocks had a +/-3% intraday move today, and if you kind of, sort of, ignore little LC (6.24 close, +.01 or +0.16%) we are down to two; BOFI finished at 21.64 off 1.25 (-5.46%);and INFO stopped at 36.78 up 1.14 (+3.20%). Fewer stocks moving, and smaller moves as well. Hmmmmm!
Let’s see how many of those forty nine index stocks had a +/- 2 point move; Answer? Three. FLT +3.03 (174.48); ICE -2.57 (270.96); and WEX +2.57 (107.46). Very quiet.
Rest of the week brings the end of the third quarter on Friday. May be some manipulation (oops, window dressing) for end of quarter. Next week……..October. Sober thoughts on that month. Have a wonderful day.