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From "Hai guyz we should be getting philip huuz for matt moris" to this:

Morris has been scouted by Philadelphia, Atlanta and Seattle, among others. Even if he is not dealt by Tuesday's deadline he still could go in an August waiver deal because he, like the other Giants with multiyear contracts, probably would not be claimed.
I don't buy that for a second. A league-average innings eater will cost from $7M-$9M in the free agent market, but a team will have to give the pitcher multiple years to get him. When the 2007/2008 offseason is over, a hypothetical 1 year/$9M contract to Morris would almost surely be the most reasonable starting pitching contract.

I can understand that Morris's trade value isn't the highest right now, but I can't fathom the idea that he's completely untradeable.