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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: AllansAlias who wrote (47008)	7/23/2002 2:20:24 PM
From: jjstingray	Respond to of 209892

Yeah but is it up or down. Sure feels like we could collapse below 1200. That must mean we are going up.

To: AllansAlias who wrote (47008)	7/23/2002 2:35:13 PM
From: Killswitch	Respond to of 209892

It was on realmoney Pro (a pay site), but I see it also now cropped up on briefing.com -- 14:30 ET JPM JP Morgan Chase hit on derivatives, Fed rumors (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.