KFTX Fintech Index-2/17 Daily & Weekly Closing Analysis

End of week high. No no no, NOT get high at the end of the week. The KFTX just did that for you so you’re on your own to have some fun over the 3 day weekend. Anyway, there’s probably no way you could get higher than the fintech index if you tried. Oh well, back to basics. The KFTX closed at 1133.75 this Friday, up 6.25 points (+0.55%) and another all time high. Fascinating.

Friday had a very strong advance/decline with 39 of the 50 fintech issues up, 10 down and 1 unchanged. Armed with that knowledge let’s find the stocks that had a 2 point and/or 3% change today.

ADS  +3.63  (235.04)
HAWK  +2.00  (36.00)  +5.88%
MCO  +2.68  (112.90)
SQ  +.58  (14.47)  +4.18%

Only 4 stocks with some significant movement. Oh well, its Friday. 

Enough about Friday since that is so yesterday. We can now look at the week in review and take a little peek forward to next week. So, for the week, the KFTX (aka. Fintech index) moved up 12.08 points or +1.1% to finish at 1133.75, another all time high. Looking at the list of stocks in the index that experienced a 3% change of price on the week here is what we found.

ADS  (235.04)  +3.11%
CBOE  (80.94)  +3.48%
DNB  (108.20)  +5.90%
HAWK  (36.00)  -5.76%
LC  (5.63)  -15.84%   (Biggest % loser on the week)
MCO  (112.90)  +4.02%
SSNC  (35.43)  +7.36%   (Biggest % winner last week)
TREE  (112.95)  -3.75%
WETF  (9.05)  +3.08%
WEX  (111.00)  -7.44%

In addition to the above “volatile club” there were 36 winners and 14 losers on the week.

So now what? Well to begin with it is a 4 day trading week since Presidents Day is Monday here in the US and usually short weeks are rather slow. Seems like the fintech (and all equity markets for that matter) are in a slow drift up mode. Valuations? Who cares. Interest rates? Who cares. Global worries? Who cares. Low Vix? Who cares. Inflation fears? Who cares. No worries ‘mon’, just be happy. That seems to be the order of the moment.

Me? I care. I worry. I urge caution. I chatted with an old friend who is an airline pilot and you know what? He said just because planes can now fly farther than previously they still have to come down for fuel sometime. WOW!! What goes up still has to come down? Who knew? You do now.

Have a great week ahead and hope the weekend is/was good.