Common Sense for Uncommon Markets
By Bill Taylor, CEO / Digital Wealth News and AI & Finance
DISCLAIMER: The opinions expressed below are my own & do not represent those of DWN or any affiliates. Any financial advice included here is for entertainment purposes only.
Bullish for week of 9/3/24
Neutral for the week of 9/3/24
GOLD
Bearish for week of 9/3/24
S&P 500 [ BTC [ ETH
9/3/24 Closing Prices :
BTC: $58,000.45 | -6.5% | (Tue-Tue)
ETH: $2,455.63 | -5% | (Tue-Tue)
Gold: $2,465| -1.3% | (Tue-Tue)
S&P 500: 5,528.83| -1.7% | (Tue-Tue)
CASH CASH CASH CASH CASH CASH CASH CASH
OK, that is the message I have been preaching and here we go into September with that message needed more than ever. It won’t matter if you are in AI stocks, gold, bitcoin, index funds or equities in general. Lighten up, reduce risk and raise cash. Its gonna get nasty.
Oh, and its OK if you don’t believe me. Yes, I know the Fed is going to ease rates this month (whisper softly because no one knows…lol) so all will be fine, right. Expect any rallies (in anything) to be met with selling as institutions, funds and investors will be wanting out of markets before the fourth quarter and the election (if there is one). The game has changed.
Moving on, hope the summer was good. Welcome to September and football season. Oh yeah, end of baseball season (almost), too. Why not “merge them?” The LA Dodgers play the Georgia Bulldogs for the BaseFootball championship. Hmmmm!
Everything is taking a hit as we enter the new month.
GOLD has hit new all time highs and its softening. It may not go down as much as other sectors but it looks lower. Neutral to slightly short. AND, oh my gosh. GOLD is now back above ETH. Wow!
BITCOIN and ETH. Both need new buyers, and in declining financial markets, they won’t be there. Both BTC and ETH now have ETF’s and regulatory acceptance. Where will the “new news” come from? Both are also over-owned, and all this coming from a long time bull in the sector. Be careful. Short.
S&P 500. To say there are too many bulls in the equity market is an understatement. BIG CALL? S&P 500 down on the year. Be super careful. Be short.
I HAVE BEEN IN THE FINANCIAL MARKETS (OPTIONS, STOCKS, COMMODITIES AND BITCOIN) FOR A VERY, VERY LONG TIME. I HAVE NEVER SEEN SO MANY THINGS BEGIN TO GO WRONG ALL AT THE SAME TIME.
LIKE I SAID LAST WEEK, ADVISORS WILL TELL YOU NOT TO PANIC AND SELL IN A DOWN MARKET. BUT IF YOU ARE OUT FIRST, YOU DON’T NEED TO PANIC.
CASH CASH CASH
2024 TARGETS:
- BITCOIN 2024……..????????
- ETH 2024…………???????????????
- GOLD 2024……….??????????
- S&P 500 2024……..??????????
Current trading positions:
- SHORT BITCOIN
- SHORT ETH
- NEUTRAL GOLD
- 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 CEO of Digital Wealth News. He is widely published & quoted in financial media and an international expert on markets and BTC, ETH, Gold & SP500.
His opinions are solely his own and for informative purposes only.
