12Oct10:51 amEST

Once You Go Hack, You Never Go Back

After an explosive rally since the Brexit aftermath this summer, several prominent cybersecurity plays in the HACK ETF are taking it on the chin this morning. Specifically, FTNT and PANW are down big, while CUDA is a bit of an outlier as it shoots higher after an impressive earnings beat.

Other HACK plays like DATA FEYE have been dismal of late, with CYBR SPLK succumbing to selling pressures today after holding out for a while. 

On the whole, this moment in time seems to represent a good spot for the HACK plays as a group to correct and reset into the holidays. 

The daily HACK chart, below, illustrates as much, with a strong uptrend since Brexit thus far coming in and not wiping out the prior gains. I am looking to now see if bulls can stabilize price around the $26 area in order to keep this pullback fairly contained and withstand the barrage of the FTNT selling today. 

Elsewhere, stocks and precious miners together are putting in a tepid bounce before the FOMC Minutes later today. I have my eye on some commodities which are flying under the radar for trades, and otherwise am in a highly defensive posture. 

Stock Market Recap 10/11/16 ... Operating in Close Quarters

 
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