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<blockquote data-quote="HerefordSire" data-source="post: 638207" data-attributes="member: 4437"><p><em>Very speculative play...look @ ticker FAS after reading the article below....</em></p><p></p><p><em>Look at the volume and after hours trading action.</em></p><p></p><p><a href="http://finance.yahoo.com/q?s=fas" target="_blank">http://finance.yahoo.com/q?s=fas</a></p><p></p><p></p><p>According to Reuters, a U.S. House Financial Services subcommittee is expected to hold a hearing on mark-to-market accounting rules as soon as March 12. The SEC's chief accountant and the chairman of the Financial Accounting Standards Board, will be asked to testify, the report said.</p><p></p><p>If that meeting results in the government relaxing mark-to-market rules, Najarian thinks the stock market could explode. </p><p></p><p>He says, "if the government relaxes mark-to-market for 12 to 18 months you could see financials move 100% in a matter of hours."</p><p></p><p><a href="http://www.cnbc.com/id/29510966" target="_blank">http://www.cnbc.com/id/29510966</a></p><p></p><p>Background</p><p></p><p>U.S. industry groups have urged the SEC and FASB to significantly alter or suspend the accounting rule, saying it is undermining the government's multibillion-dollar effort to stabilize the financial sector.</p><p></p><p>Mark-to-market accounting requires assets to be valued at current market prices. Some banks say it forces them to mark down assets to artificially low prices in the current financial crisis, even when banks intend to hold the assets past the current reporting period.</p><p></p><p>What's the trade?</p><p></p><p>Jon Najarian suggests a higher risk play – he suggests long the Financial Bull 3x ETF [FAS 2.64 -0.11 (-4%) ] which is triple long ahead of the mark-to-market hearing.</p><p></p><p><a href="http://www.cnbc.com/id/29549920" target="_blank">http://www.cnbc.com/id/29549920</a></p></blockquote><p></p>
[QUOTE="HerefordSire, post: 638207, member: 4437"] [i]Very speculative play...look @ ticker FAS after reading the article below....[/i] [i]Look at the volume and after hours trading action.[/i] [url=http://finance.yahoo.com/q?s=fas]http://finance.yahoo.com/q?s=fas[/url] According to Reuters, a U.S. House Financial Services subcommittee is expected to hold a hearing on mark-to-market accounting rules as soon as March 12. The SEC's chief accountant and the chairman of the Financial Accounting Standards Board, will be asked to testify, the report said. If that meeting results in the government relaxing mark-to-market rules, Najarian thinks the stock market could explode. He says, “if the government relaxes mark-to-market for 12 to 18 months you could see financials move 100% in a matter of hours.” [url=http://www.cnbc.com/id/29510966]http://www.cnbc.com/id/29510966[/url] Background U.S. industry groups have urged the SEC and FASB to significantly alter or suspend the accounting rule, saying it is undermining the government's multibillion-dollar effort to stabilize the financial sector. Mark-to-market accounting requires assets to be valued at current market prices. Some banks say it forces them to mark down assets to artificially low prices in the current financial crisis, even when banks intend to hold the assets past the current reporting period. What's the trade? Jon Najarian suggests a higher risk play – he suggests long the Financial Bull 3x ETF [FAS 2.64 -0.11 (-4%) ] which is triple long ahead of the mark-to-market hearing. [url=http://www.cnbc.com/id/29549920]http://www.cnbc.com/id/29549920[/url] [/QUOTE]
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