A Sunny Market for Shady Characters

The "cryptocurrency" market created plenty of buzz over the weekend alongside recent weakness in the U.S. Dollar, as the price of Bitcoin and Ethereum continue to rally throughout 2017. 

In lieu of focusing too much on speculating in those given markets, let us take a step back and consider that it is a way to express at least some loss of confidence in the Dollar. Indeed, the greenback has suffered a good deal in 2017, heretofore, and may not be done going down, either. The Euro and especially British Pound Sterling, for example, have clearly benefitted from the weak Dollar, albeit to much less fanfare among riverboat speculators than the cryptocurrencies. 

Regarding the cryptos, I still view the cybersecurity stocks as standing to benefit from the inevitable coming attacks. As famous bank robber Willie Sutton once said, "I rob banks because that's where the money is." And you can be sure plenty of crypto robbers in the coming months and years will try to go where the virtual money is, too.

Thus, the HACK ETF for the cyber stocks, updated below, valiantly held onto it prior resistance breakout last week among Wednesday's carnage. As long as the $29.50 continues to hold below as support, cybersecurity stocks remain one of the better bull stories in 2017 in terms of waking up from an extended period of disappointing price action. We have a few specific names we are playing and stalking for Members. But SPLK earnings this week could sway the short-term move. 

Ultimately, though, in an increasingly sunny market for shady characters, demand for effective cybersecurity will likely only increase in the near future.