the firm s chief investment officer told CNBC s Trading Nation on Wednesday.
Even though Mills believes more pain could be ahead, he lists energy,materials, industrials and small caps as his top investment picks because they re tied to the economic rebound and often do well in a rising interest rate environment. If you look at the average stock in the Russell 1000 being down about 10% right now, he said. Zero percent of energy names are above their 50-day moving average.
Within energy, Mills is particularly bullish on EOG Resources, a shale oil and natural gas producer. That s our favorite name in the energy space. I think you see the commodities start to stabilize. You ve already seen energy stocks get beat up in a big way, said Mills. So, I really think that s where you want to be looking here going forward if you have, say, a six to 12 month time horizon.
the firm s chief investment officer told CNBC s Trading Nation on Wednesday.
Even though Mills believes more pain could be ahead, he lists energy,materials, industrials and small caps as his top investment picks because they re tied to the economic rebound and often do well in a rising interest rate environment. If you look at the average stock in the Russell 1000 being down about 10% right now, he said. Zero percent of energy names are above their 50-day moving average.
Within energy, Mills is particularly bullish on EOG Resources, a shale oil and natural gas producer. That s our favorite name in the energy space. I think you see the commodities start to stabilize. You ve already seen energy stocks get beat up in a big way, said Mills. So, I really think that s where you want to be looking here going forward if you have, say, a six to 12 month time horizon.
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