The New York Times Article regarding the change in accounting rules cannot be found on their website because they block their content.

Here is the essence of the article:

“Giving the market momentum was a change to accounting rules that could make some banks look more profitable on paper (emphasis mine). The Financial Accounting Standards Board voted to ease mark-to-market standards, giving companies more leeway in valuing mortgage-backed securities.”

Conclusion : Just because something looks better “on paper” doesn’t mean that it’s any better. Suspending this rule will, of course, backfire.

Peace

Float like a butterfly, sting like a bee
-Muhammad Ali

My favorite sports movie of all time is When We Were Kings. The chronicles of The Rumble in the Jungle. Don King’s first boxing promotion. Everyone doubted Ali. Even Howard Cosell. And then you see a ferocious looking George Foreman walk down the stairs of whatever the G 5 of the day was. German Shepherd by leash. He was big and he was bad. And everyone doubted Ali. And then it may not go off because of promotion troubles.

“Ali, boom-ba-yay”
“Ali, boom-ba-yay”

And everyone thought Foreman was going to crush him.
And Ali wasn’t going to last three rounds.

But his light was too bright.

“Ali, boom-ba-yay”
“Ali, boom-ba-yay”

And then it finally goes down and the big lights are beaming hard and the sweat is pouring off and the rain is pouring down and

“Ali, boom-ba-yay”
“Ali, boom-ba-yay”

And Ali did what was planned and what he said he’d do all along.
Float like a butterfly sting like a bee he did.

Ali boom-ba-yay came alive again.
Because it was written and he was chose to and he was supposed to.

I dare you to walk that line. Where everyone doubts you.
And you persist.
And you break through.
Cuz you were chose to.
And you’re supposed to.

Peace

"Ali, boom-ba-yay"

I know what to do do when your earnings leave you.

You do voodoo.

Chris Isaac makes voodoo with his voice and guitar.

I do voodoo with pictures.  Tonight I do voodoo with Research In Motion (RIMM).

My voodoo says the stock sees $70 soon after earnings this Thursday.

After $70, it will head down to $45 and find support there.

Peace

Click to enlarge