J.P. Morgan just did a deal supported by the Fed to buy Bear Stearns (5th largest US bank) for $2/shares paid in JPM shares. Bear Stearns started trading Friday at $57 and closed at $30. Tomorrow morning they are worth $2. A lot of people will have lost their shirts and all bank shares are going to face extreme market pressures.

The Asian markets are getting pounded and tomorrow will not be a normal trading date. Gold is up over $1022 and climbing as people move cash into it. I'm expecting but hoping I'm wrong that the juniors are going to be absolutely pounded tomorrow (and I own a ton of them). My plan is to hold tight and ride it out.

GLTA.

... Been There