Timer Digest Market Commentary
Fari Hamzei
Well, we got our one day wonder (a bounce) yesterday and this cat showed a lot of life. The November Puts retail traders bought late last week became absolutely worthless, and now, the November Calls they bought yesterday should become worthless by tomorrow as the new reality will sink in when traders ask why FASB Rule 157 (Fair Value Measurements) got delayed for one year TODAY [two business hours before it went effective].
Stay SHORT.