Kingsview CIO Scott Martin discusses the value of gold in a portfolio and names in the alternative energy space.
Program: Making Money with Charles Payne
Station: Fox Business News
CHARLES PAYNE: All right, so it’s been a monster week right here, earnings, economic data, of-course Coinbase went public. Now, amid all of these hot topics, something else was happening. And I’m asking, is it time to reconsider Gold? Well, my next guest says he’s not reconsidering it because he never left. Here with us now, Kingsview, Wealth Management CIO, Fox Business Contributor Scott Martin. Scott, you know, Gold making that little stealth rally. I looked at the chart. Look, the global double bottom breaking through some old resistance numbers. Is it finally maybe escaping the shadow of Bitcoin?
SCOTT MARTIN: I believe so, Charles, and kind of always considering gold, I am I mean, people were calling me Gold Member for years, and while that was a great compliment, it still is true, though, in the sense of I guess I could still be Gold Member to some sense, Charles, because of the value that Gold brings to your portfolio, other than things like stocks and other than things like bonds. And so you’re right. As you look at its relationship to Bitcoin, which certainly took the limelight over the last several months, the reality is I think Gold is due to come back. You look at some of the technicals on gold, whether it’s the Stochastics, the RSI, the MACD, what you’re just basically kind of short term indicators of momentum, but tell you that gold is making a turn as some of that money say the hot money that is comes out of things like Bitcoin.
CHARLES PAYNE: You know, and to your point, they both, to a degree, have the same value proposition, right? It’s all about a play against fiat currency. The thing, though, is gold has like a several century track record against this stuff. And it’s absolutely remarkable if you look at the retained purchasing power of gold. So I wouldn’t be surprised if some people discover it for the first time. And let’s look ahead to next week. Their earnings are going to pick up over 300 names reporting. Give us an idea of some of the things you’re looking at that maybe the viewers may want to be long going into the weekend.
SCOTT MARTIN: Yes, just a few names to sift through. Charles, a few hundred as in, like you said, about three hundred and change. So for us, there’s a couple of names we’ve been picking up recently that have some earnings next week. One of them that I want to talk about today is NextEra Energy in that alternative energy space, wind, solar also doing some heating and cooling improvements as well NextEra as an energy company, Charles, that I think will capitalize on kind of that EV wave, if you will, the electronic vehicle wave the more energy conscious wave that’s out there. So if you look at the chart on this one, two very strong metrics within itself as far as how it’s trading, not a terribly volatile stock either. And one that we’ve added to our portfolio is to add some stability.
CHARLES PAYNE: Scott, you may not know this, but I told people there’s one stock to buy if Joe Biden won the presidency, it was NEE, it outperformed like a beast during the Obama administration. They funneled trillions, billions of dollars into this company, got a bigger market cap than Exxon, ExxonMobil from nowhere. Hey, I got 30 seconds. Nobody talks. Nobody talks about it. The Nasdaq double top, you just mentioned technicals. If it breaks out, where does it go?
SCOTT MARTIN: It goes a lot higher, but you’re right about the technical – the technical is at least very short term, which if you’re trading at home, that’s the stuff that you need to watch. Certainly they’ve turned over again. So, I mean, if you look at stuff like the RSI, you look at stuff like the slow Stochastics, which again, are just momentum indicators. So there can be short term in nature. But the reality is a lot of those things, Charles hit some very big say, multiday highs over the course of this week. So the reality is that’s likely to come back in a little bit. And when those things pull back, that’s when you buy back in.
CHARLES PAYNE: We’ll be we’ll be looking to buy that dip for sure. Scott, thank you, my man. Have a great weekend.