The Taylor Report (12/1/20)

By
Bill Taylor
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Simple Thoughts in Complex Markets

By Bill Taylor, Contributor/CIO-Entoro Wealth

The opinions expressed below are my own & do not necessarily represent those of Entoro Wealth or any of its affiliates

Bullish for week of 12/1

Bitcoin | Ethereum | Gold

Bearish for week of 12/1

S&P 500

12/1/20 Closing Prices:

Bitcoin:  $19,368.13  (+$979.90)
Ether:   $604.10 (+$9.85)
Gold:    $1,807  (+$38.00)
S&P 500  3,662.45  (+40.82)

Trading Summary Notes for Tuesday, 12/1/20:

What’s new? Last month of the year. YEA? Many funds have closed their books for 2020 as of the end of November. Quiet month ahead?

What to do now? Buy Bitcoin & Ethereum. BTC is about to go parabolic. Buy the BIG dip in gold. Longs got out at month end. 2021 looks like another good gold year. Keep (or initiate) a short S&P 500 exposure.

But first, I first posted my year end predictions a couple months ago (you can check past Taylor Reports). I am going to continue posting my year end price predictions with comments.

Year end BTC price? $17,500. Looked really high when BTC was $12K. Now looks like it will be REALLY low. See comments below.

Year end ETH price? $500. Looked high when ETH was $350. Now looks low. See comment below.

Year end GOLD price? $2,200. Looked doable when gold was over $1,900. Now not so much. Lets say new year end price will be $18,75-$1,900.

  • BITCOIN on its way through $20,000. Going parabolic (that’s UP). $25K year end? Likely.
  • Guggenheim Investments latest to look at HUGE BITCOIN investment….like 10% of assets
  • ETH has broken out of BITCOIN’S shadow
  • ETH has moved to $600 as BITCOIN moves closer to the $20,000 level.
  • Assuming BTC goes through $20K, ETH can easily hit our new target (year end price) of……$800-$825
  • GOLD had an end of month (and year end for some funds) plunge. Profit taking and re-balancing Buy this dip.
  • Re-balancing! GOLD traders/investors scaling back those positions and moving into BITCOIN.
  • GOLD looks to make another move higher……by year end. Year end? $1,875-$1,900.
  • Stay long. GOLD, buy the dips, 2021 upside target is $2,500. Longer term? $3,000-$3,500.
  • Now on to the equity market (S&P 500). IT’S INSANE. CRAZY.
  • Reality will NOT be well received. 10% sell off by year end? Don’t be surprised.
  • 2021 S&P 500 “dips” to 2,500-2,600? .

Current trading positions:  LONG BITCOIN,  LONG ETH, LONG GOLD & SHORT S&P 500

(Entoro Wealth offers SMA’s to accredited investors that include Bitcoin, Ethereum, Gold and short S&P 500)

We compare the price of Bitcoin, Ethereum, Gold & the S&P 500. We use the CME Bitcoin Indexes (BRR & BRTI) and the CME Ethereum Indexes (ETH_RR_USD) & (ETH_RTI_USD) for reference as well as the London Bullion Market afternoon price settlement on the digital assets & gold.

Bill Taylor is Managing Director/CIO at Entoro Wealth & is widely published in financial industry media throughout the world

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