Knee deep in mud. Or sound asleep, in a coma or just pick your own analogy for DULL. Yup, another day of what looked like maybe some kind of big movement but, alas, no. So the KFTX snoozed its way to a minuscule gain of .61 of a point (+0.06%) and fell asleep at 1108.21. Yawn.
But no matter, we will seek to find the stocks in the fintech index that had a 2 point and/or 3% move today. Wheeeee!
DNB -3.00 (122.41)
FIS -2.05 (77.30)
SPGI +2.96 (125.84)
WETF +.33 (9.00) +3.81%
Not many participants today and the advance/decline showed a pretty neutral 23 up, 24 down and 3 unchanged as well. Yawn.
Every day this ‘malaise’ continues brings one more day of concern. Actually, great concern. Talk of three rate rises this year and yields (10yr) decline. China has currency “issues” and no one cares. I care and am getting nervous. Only 4 stocks make up most of the DOW’s gains this year (so far), I care. Selected shorts and hedged positions are looking more attractive. Fintech is not an isolated island. Oh well, sleep well tonight if you aren’t already slept out.
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By Bill Taylor-CEO, Fintegration/FintekNews & CIO, TLC Capital Group