deep down he knows this stock and the company are worthless. he is sitting on about 2 million shares that he would like to cashout before the inevitable $0.00/share comes. he also knows that he has a ton of goldbugs who worship him in the same manner that he used to worship sai baba (the human god in India who died in 2010 or 2011, can't remember). so to prevent a run on the shares he bought 60,000 shares. i think that amount is just enough to restore confidence in his flock of sheep that idolize him; it is also not that much in terms of his networth that if the inevitable does happen earlier than planned, he only loses $150,000 or so. so he basically risked $150,000 to get suckers to boost up the share price so he can slowly unload the remaining 2 million shares he has.
Just look at the facts. TRX has not done anything in 10 years. Most of Sinclair's calls have been wrong on jsmineset.com. To shift some of the heat from many of his bad calls, he now points to Alf and Martin Armstrong and references their gold calls. This way the sheep will blame them instead of Sinclair if the gold trade goes sour.
the bottomline is that TRX are essentially worthless (minus the cash per share in the bank) and that the stock market gods are giving you a gift to cashout. none of you will and when this stock goes to $0.00, you will blame everyone in the world except James Sinclair.
ALL MY OWN OPINION, TRADE AT YOUR OWN RISK.
Keepshortin - its one thing to SAY that Sinclair has been wrong - and another to prove it. As long as i have been reading him - EVERYTHING he has said has come true. He has been stating depreciation of the currency d/t excess credit - and that Quantitative Easing would continue because the 1)the country can't contend with the pain 2)to mask the bankruptcy. As well - he has been predicting that Gold would climb to great heights. Has been correct there as well. So..........what has he said that has been wrong?
So..........what has he said that has been wrong?
probably over 1000 predictions that have been wrong. the best one being to STOP TRADING in May 2008 right before the biggest financial collapse in history.
another famous call was that he said the dollar index had to go to .52 in order for gold to go to $1650. he said they were 100% inversely related.
there are at least 998 other bad calls.
i dont think he has one good call.
What has he said that has been wrong?
1. He has called a top in the bond market many times. He has said things like "you can make a living shorting bonds from here".
2. "this is it, it is now" Just before the GFC. By "it" he meant the great gold rally.
3. He said hyperinflation would support the stock market just before the GFC. Now the decline there was the largest percentage decline ever. (The 29-32 decline happened in stages)
4. "Formational breakouts are occuring" - April 2011, just before they got smashed.
5. "The bear market in gold is absolutely over." April 1993 James E. Sinclair Sr. Metals Analyst.
Sinclair was wrong for a full yr. when he predicted gold goes to $ 480 on Aug. 15 .. which was a Sunday ... forgot the yr.
But as one writer said before me ... he uses somebody else for the quotes... Sinclair never came out on his own and claimed Gold would go to $ 12,000 ... he got that one from Martin Armstrong ... I read both .
But that is not the worse part ... what he does with his gold business... how he does it is the most disappointing part.
GLAD I SOLD LONG AGO .