FintekNews-KFTX Fintech Index-10/28 Daily & Week End Closing Analysis

By Bill Taylor-CEO, Fintegration/FintekNews & CIO, TLC Capital Group

10/28/16 Daily Closing Analysis & Week End Review – NASDAQ Fintech Index (KFTX)


Yawn, doze and snore. That’s the KFTX’s day today (Friday). Nothing going on unless you’re into emails (presidential candidate Clinton had a few new missing ones discovered). Just shows that perhaps the waiting in the markets are for the election to be done. In any event, the NASDAQ fintech index closed down 1.20 points to 1007.80 (-0.12%) to finish the week.

The index did have 5 stocks (well, 4 & one half actually…LC again) that enjoyed moving around 3% intraday. BOFI lost 2.71 to 18.36 (-12.86%). Seems they “just met” earnings expectations; CATM picked up 1.09 to 48.65 (+2.29%) but was higher earlier; LC (yup) lost .05 to 4.70 (-1.05%) and it too was up earlier; RATE up .15 at 7.80 (+1.96%); and SSNC closed down .43 at 31.51 (-1.35%) and it too was up on the day earlier. Couple of quitters in that group.

Big point movers (+/- 2 points) in the index? Yeah, we got them. BOFI (18.36) -2.71 (see above); and MA (106.90) +3.30. Wow! Just 2? Guess Halloween scared away the traders.

So, how did the week go? Well I’ll tell you and it’s a real downer. The KFTX sunk further into the sinkhole with a loss of 12.29 points closing at 1007.81  off -1.2%. Not to point out the obvious (but I will), the fintech index is technically very weak and a lot of valuations are under pressure. Or, its Halloween and the bull is dressed up like a bear.

Let’s take a look at biggest individual movers (+/- 3%) on the week:

ACIW  -7.18%  (18.50)

BOFI  -18.10%  (18.36)

CLGX  +8.78%  (42.10)

CME  -3.97%  (99.91)

EFX  -5.98%  (122.00)

ENV  -5.65%  (35.05)

EVTC  4.09%  (15.25)

FICO  -4.20%  (119.17)

GDOT  4.66%  (21.90)

HAWK  -4.00%  (34.80)

LC  -5.81%  (4.70)

MA  +3.35%  (106.90)

NDAQ  -3.65%  (64.09)

PYPL  -5.12%  (41.76)

SEIC  3.40%  (44.33)

SQ  -3.13%  (11.14)

TSS  +6.53%  (50.07)

VIRT  -3.64%  (13.25)

WEX  +4.59%  (112.92)

What will the new week bring? Well, Halloween is Monday and if you haven’t partied yet, get those costumes ready. Oh yeah, Fed has a meeting to “discuss” interest rates and stuff (nothing meeting; no rate hikes….election ya know), some economic news and the first Friday of the month brings the payroll numbers. NFP will be a watched number since the election is really REALLY close now. So, slow week to welcome in November. Have fun.