The Taylor Report (12/15/20)


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 12/15

Bitcoin | Ethereum | Gold

Bearish for week of 12/15

S&P 500

12/15/20 Closing Prices:

Bitcoin:  $19,406.98  (+$175.51)
Ether:   $585.48 (+$0.07)
Gold:    $1,846  (+$26.00)
S&P 500  3,694.62  (+47.13)

Trading Summary Notes for Tuesday, 12/15/20:

What’s new? Last 2020 Quadruple expiration Friday. Last “pop” of volatility. Huge re-balancing of S&P 500 (Tesla added).

What to do now? Keep bitcoin, ether and gold long positions. Stay short the S&P 500. Now THAT’S a nice package. Prepare for 2021 to experience inflation

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? Was $17,500. NOW…………$20,000-$20,500

Year end ETH price? Was $500 NOW……….$550-$600

Year end GOLD price? Was $2,200 NOW………$1,875-$1,900

  • BITCOIN on its way through $20,000. Next target $25,000;
  • MassMutual bought $100M BITCOIN;
  • Don’t be fazed by the stall just under $20K. There are huge buyers under the BITCOIN market;
  • 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);
  • GOLD selling has abated. Probably stuck in the mid-$1,800+ area for the balance of the year;
  • 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;
  • 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