The Taylor Report (1/5/21)


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 1/5

Bitcoin | Ethereum | Gold

Bearish for week of 1/5

S&P 500

1/5/21 Closing Prices:

Bitcoin:  $32,153.46  (+$277.25)
Ether:   $1,050.38 (+7.15)
Gold:    $1,941  (+$6.00)
S&P 500  3,726.86  (+26.21)

Trading Summary Notes for Tuesday, 1/5/21:

What’s new? The new year. Happy 2021

What to do now? Do NOT tinker with what’s working. Expect BTC, ETH and Gold to keep the upside momentum. Stay long all three. Expect what nobody is expecting; Stocks to go….DOWN. Short S&P 500. Prepare for 2021 to experience inflation.

But first, Expect EVERYONE to come out with top 2021 picks and forecasts. NO ONE got last year right (not even close). So, “experts” got up a couple days ago and now have all the answers?? Let’s keep it simple (and listen to me cause I’m smart (lol).

First Trading Thoughts of 2021

  • BITCOIN ……………So, why can’t BITCOIN just keep going up? Just because it has gone up (a lot) doesn’t mean it can’t continue. Don’t fight the momentum;
  • Huge new institutional buyers are allocating to BITCOIN almost daily;
  • There are huge buyers under the BITCOIN market. For traders, buy the dips;
  • BITCOIN short term target $48,000-$50,000;
  • ETH safely above $1,000 and at new all time highs. More to go;
  • CME GROUP ETH FUTURES TO BEGIN FEB 8TH. Should add interest and liquidity;
  • ETH short term target $1,500;
  • GOLD getting lots of new money. Ready for new all time highs shortly;
  • Inflation is HERE! GOLD short term target $2,500;
  • GOLD headed for $3,000-$3,500 longer term;
  • Expect S&P 500 and equity markets to retreat. Very unexpected decline may start early;
  • Tech stocks, including new S&P 500 component Tesla, may actually turn out to be a drag on the S&P;
  • 2021 S&P 500 “dips” to 2,500-2,600?

Not an expert…..just been around for a long time.

  • 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