Friday, 10/4, Market WrapUp (Silver is Undervalued in a Major Way)

Financial Sense Online ^ | 10/4/2002 | James J. Puplava

[rohry]

Market WrapUp is delivered...

[SierraWasp]

How about this bulliten from MarketWatch.com:

6:26PM J.P. Morgan Chase to fire 4,000 invest bankers - report (JPM) by Luisa Beltran

J.P. Morgan Chase & Co. plans to lay off nearly 4,000 investment bankers from its investment banking group, Bloomberg News reported Friday, citing people familiar with the situation. Earlier this year, J.P. Morgan announced that 2,000 bankers would be laid off and CEO William Harrison had announced more cuts last week. However, Harrison did not give a final number. A J.P. Morgan (JPM) spokesman declined comment.

[billhilly]

Would someone please notify me when my twenty year old ingot of 99.9 fine silver is anywhere near the worth it was when I bought it? Huh?

[HiTech RedNeck]

Great Depression #2 here we come???

[JRandomFreeper]

Would someone please notify me when my twenty year old ingot of 99.9 fine silver is anywhere near the worth it was when I bought it?

During the Hunt Brothers run up to $50/oz on silver? It won't ever be.

I've got some I bought at $3.50/oz with no premium that I could unload at a profit, though.

/john

[SierraWasp]

"#2 here we come???"

I like the way you use three question marks like I use exclamation marks in threes for added emphasis.

I wonder too and it makes me think the bodies may come raining down on the streets of the financial district, once again. (excluding those from the WTC fleeing the flames of Islamakazi terrorism)

Speaking of that... The symbolism of the twin towers falling like a house of cards and the biblical "Babylon is fallen, is fallen, that great city..."

It's done something horrible to the invincable image of the world's lone superpower. I know, I know, this all started before that happened... well, those towers were hit and fell because of the failed impeachment trial in the Senate!!!

[rohry]

"Would someone please notify me when my twenty year old ingot of 99.9 fine silver is anywhere near the worth it was when I bought it? Huh?"

I am a silver buyer, what do you want to sell it for?

[razorback-bert]

A 1.1 million block of JPM trading after hours.

http://quotes.nasdaq.com/quote.dll?mode=frameset&kind=&symbol=RMBS&symbol=JPM&symbol=&symbol=&symbol=&symbol=&symbol=&symbol=&symbol=&symbol=&FormType=&pathname=&page=afterhours&selected=JPM

[arete]

Crazy week wasn't it. The volatility is absolutely astonishing. I'm kinda expecting the west coast dock workers to end their strike by Monday and that could give us a rally but then we have the President talking about Iraq Monday night. Going to be another interesting week coming up.

Richard W.

[HiTech RedNeck]

So if Clinton had been ousted we would have had a Gore presidency. That would sure have stopped Al Qaeda. Yup.

[montag813]

My consulting business dried up when one client cooked its books and left us with a $400k bag, and two other clients were vaporized in Tower Two.

Now I trade futures and doing better than ever by shorting the crap out of this market on every blip up. Sweet revenge.

[arete]

A 1.1 million block of JPM trading after hours.

You normally don't see that kind of trading in the AH market. Somebody really wanted (or was forced) out. Big bets being made and when you get the margin call -- well, you're cooked.

Richard W.

[tubebender]

What happened to silver in July that caused the selloff of all the companies shown ? I don't see how the shorts are going to cover without everyone seeing the moves. I had a broker tell me that a trade of 2000 shares of CDE could move the market. I found that hard to believe but I'm just a Dumbie.

[meyer]

Would someone please notify me when my twenty year old ingot of 99.9 fine silver is anywhere near the worth it was when I bought it? Huh?

I hear ya! I've been sitting on this $4.65 silver for so long, my butt is tarnishing. :^)

[UnBlinkingEye]

I'm kinda expecting the west coast dock workers to end their strike by Monday and that could give us a rally but then we have the President talking about Iraq Monday night. Going to be another interesting week coming up.

It is a lockout, not a strike. The strike may be coming.

[meyer]

A 1.1 million block of JPM trading after hours.

I'd like to know just who bought and who sold JPM. That's a pretty big chunk.

[B4Ranch]

I think the market is simply representing the loss of integrity and overall ethics in American politics. "I won't tell on you if you don't tell on me." That kind of thing can put a man in jail. Ask Trafficant, he knows.

[STONEWALLS]

as always, thanks Rhory.

"The smart money already owns silver. Buffett bought his stake in 1997. He took delivery and then shipped it to safe keeping overseas"

.....hmm..why would Buffett ship it out of the U.S. for 'safekeeping'?...what's he worried about?..

Good luck to everybody!

Stonewalls