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Gold/Mining/Energy : Gold Price Monitor

GDXJ 94.84

+2.3%

Oct 30 4:00 PM EDT

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To: long-gone who wrote (88253)	7/23/2002 6:08:04 PM
From: Real Man	Read Replies (1) of 116741

JP Morgan Chase hit on derivatives, Fed rumors (JPM) 20.48 -4.04: Stock is getting mauled today on a report in the Journal that JPM was involved in numerous Enron-like deals (7:01); however, we are also hearing rumors among traders that if JPM`s stock falls or closes below a certain price (we`re hearing $20 or $22), the co may be forced to unwind a number of derivative positions; in addition, we`re hearing rumors that the Fed may hold an emergency meeting tonight to discuss such banking issues; of course, a degree of skepticism is warranted here (especially with the latter rumor), but chatter such as this is undeniably weighing on JPM and the bank group in general.

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