OAKLAND -- Brian Sabean, 100 percent true to form, didn't couch his analysis in abstract terms or statistical nuance.

He watched this Giants team race to a 42-21 start through early June, and he has endured the long, steep decline from there.

And Sabean hasn't liked that last part, hasn't liked it much at all.

"It's confusing -- for obvious reasons," Sabean said in a phone interview with me on Monday afternoon, hours before the start of the Giants' four-game series with the A's.

"I think you have to be as patient as you possibly can, because certain things have to play out.

"Unfortunately, we've leaked oil in a lot of areas. That further confuses what you think you might want to do or have to do in and around the trade deadline."

So what's the Giants general manager thinking as the July 31 trade deadline appears on the horizon and his team still hovers near first place?

"We've told everybody that everybody we have is in play," Sabean said. "There are no untouchables in our organization."

That's about as plain as a G.M. can get, without divulging secret negotiations or tipping the franchise's hand.

The Giants are open for business in the trade market, and there is nobody in the farm system -- or perhaps even on the major league roster -- who is off-limits for discussion.

Of course, the Giants aren't exactly loaded with elite prospects. But for Sabean to say these words to other teams and also publicly is a bit of a communique.

When did you say this to other teams, Brian?

"It's probably been a week or 10 days that it's been out there," Sabean said. "We'll move anybody in our organization."

This is a tricky spot for the Giants for a couple reasons, all implied by these Sabean comments.

First, the Giants are built to contend and have zero appetite for any kind of rebuild or retrenchment, but they have so many holes right now that Sabean first has to decide on an order of priority.

Basically, the Giants can't realistically go out and get three or four players by July 31.

So they need the return of Brandon Belt to give them a boost, and maybe Angel Pagan and Marco Scutaro can re-emerge after the All-Star break.

Then Sabean can pinpoint one or two desperate need areas and go about fixing the Giants.

"They're going to have to get well on their own first and play better first to give us a sense of what we really need and are able to try to do," Sabean said.

"All our prospects are in play, but at this point we need bullpen help, you can always use another a starter, second base, bench help ...

"Just a lot of areas where you need shoring up and obviously we're not able to do that totally in the trade market."

But secondly, the Giants have committed a ton of future money to their franchise tent poles -- about $127 million committed to 12 players, from Buster Posey to Matt Cain to Hunter Pence to Scutaro and on and on.

Plus, the Giants have Pablo Sandoval, Sergio Romo, Michael Morse and Ryan Vogelsong all about to hit free agency.

Even if the Giants don't re-sign all of them for 2015, they have to figure out how to replace whomever they don't -- and again, their farm system is hardly brimming with major-league-ready talent.

"Our budget is, as the result of the free-agents-to-be, somewhat spoken for next year," Sabean said.

"So you really have to discuss it hard and long to consider taking someone with money next year. I'm not saying it's impossible, but I don't know how probable it is."

All of this explains, for instance, why the Giants couldn't come close to landing Jeff Samardzija from the Cubs, even if the Giants were ready to offer top prospect Kyle Crick.

The A's had Addison Russell and other prime talents to offer, and that was that.

Plus, the Giants couldn't really take on Samardzija's expected $10-million-plus salary for 2015, anyway.

"We contacted (the Cubs) in the middle of the month, and they gave us the impression on two or three occasions they'd get back to us -- which they didn't," Sabean said.

"That told us they really didn't think we had enough to move forward with."

Which leaves the Giants at this peculiar and confusing place, neither out of the race nor really sure if they have enough -- or should make radical moves -- to stay in it for good.

Read Tim Kawakami's Talking Points blog at blogs.mercurynews.com/kawakami. Contact him at tkawakami@mercurynews.com.