Surviving the Backdraft from FireEye

After its latest earnings, well, fire, the market seems to be suggesting that the issues FEYE is facing are limited to that firm on a micro sense, since other cybersecurity plays are some of the best performing this morning. Beyond the DATA FTNT gaps higher, CHKP CYBR PANW PPFT SYMC are just a few HACK holdings acting well. 

Overall, as we have been tracking, if the sector ETF, below on the daily chart, continues to hold over $28 then the cybersecurity space has a viable opportunity to continue to stage resurgence of sorts in 2017 after a somewhat disappointing close to 2016. 

And ignoring the FEYE carnage, which has become routine for them, is a promising step that the sector is hell-bent on marching higher regardless of the weak sisters.