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camarodan64 (99.38)

BLOODSHED ON WALLSTREET AFTERMATH OF FEB 2009

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April 01, 2009 – Comments (3) | RELATED TICKERS: SKF , DDM

    New mark to market laws come into effect

 

Ever hear of the new laws passed by the SEC concerning accounting and "mark to MArket"

a lot of the loses by the big banks in the last 1.5 years can be blamed on the "Old mark to market rule"

forcing banks to devalue their assets to 0 writing off trillions in asset values,The new "MARK TO MARKET" law just passed, now the  big banks will have to write up those asset values, which of course will be a big surprise to everyone, when the said BANKS annouce earnings from write ups in the future.

 watch my video on youtube

its called 

DOW JONES 30 HISTORIC QUINTILE(x5) LONG TERM TREND BOTTOM

http://www.youtube.com/watch?v=eCbqkmgehy0

this video was published on FEB 25 2009

everybody thought the dow was going to 3500

 

watch the video you will be impressed

 

Read all the comments for that video "DOW JONES 30 HISTORIC QUINTILE(x5) LONG TERM TREND BOTTOM"as first coined buy camaroda64 on Feb 21 2009

You will see that I recommended  going all in the DOW 30 3 weeks ago

"The dow 30 closed today up $149 on a modest rally , The SKF also gained but closed off the highs today an anomaly on wallstreet. It is obvious more bank failures will happen here, adding investment demand pressure to gold and firm demand from Bank Of China. If the "mark to markrt rule is suspened then assets wvalues will rise quickly, not sure when this law will take effect give the USA goverment time"camarodan64 March 3 2009

"  SKF is now up to $237 with the dow selling off 225 points at 6665" still looking for a bottom at that point

"The vix index is now is spiking around 50 indicating a buying opp. is present... The weak rally yesterday foretold todays sell off and it shows how much idiot reporters are spooking investors creating these sell offs, the vix may indeed spike above 50 soon"camarodan64 March 4 2009

"dow down today and the SKF is up again"camarodan64 March 5 2009

"short opp in skf and buy opp dow ddm ultraproshares"camarodan64 March 6 2009

"SKF DOWN BIG NEAR OPEN 9.35 AM"camardan64 March 9 2009

"strong rally in DOW 30 under way at 9:53 am up 187points" also on March 9 2009 by camarodan64

You will see i recommended short SKF at $270 a share 3 weeks ago, and the SKF recently traded around $90 for 3--4 days straight just read all the comments, let me know "

3 Comments – Post Your Own

#1) On April 01, 2009 at 4:23 PM, awallejr (79.38) wrote:

I always thought that asset valuations were more important concerning the amount of cash reserves a bank needs to keep on hand (loan loss reserves).  The only real impact on operational earnings would be having less cash to lend out and hence produce less.

With mark to market it was based more on distressed sales valuations, which really was unfair to those assets producing and expected to continue to produce.  The changes take this into consideration I thought for valuation purposes.  Accordingly the real impact would be that banks can now lend out more of its cash on hand since they wouldn't need to keep adding to its loan loss reserves and might even be able to reduce those levels.

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#2) On May 21, 2009 at 2:06 PM, camarodan64 (99.38) wrote:

Now is the time to buy SKY under at $45.90 May 21 2009

and short the DDM,  Short the SDS,   Short Fas or use other means to achieve this such as Puts and calls

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#3) On May 21, 2009 at 2:08 PM, camarodan64 (99.38) wrote:

Sorry the post above stated SKY in error,  It should have read SKF  Ultra proshares, Triple short fianacials

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