Datalink is up $1 so far today at $9.68. Last quarter they posted very strong earnings and are ranked at the top of our proprietary equity model. The stock did suffer from the market sell off a few weeks ago but now it appears the stock is once again gaining traction.
This mornings ISM report came in a bit stronger than expected and not indicating a recession, but its close. Many of the underlying components are weak. Treasuries remain strong with the 10-year yield at 2.18%, this remains a negative for equities along with the strength in Gold.
Accounts remain hedged as I do not believe this is an appropriate time to allocate cash to equities. Perhaps in September we’ll have a better set up if we successfully retest the August lows.
Long GLD and DTLK