I saw the parked car as soon as he crested, but I was already purposly looking because I read in the thread about the "smoke".
On loose surfaces, you certainly can countersteer w/ locked up tires. They act like rudders... so it's not exactly effective... but it's better than nothing. Plus once the car starts rolling, the wheels are pointed in the right direction.
But I'm laughing at the guy that said once you're out of control to just let off the wheel so you don't break a wrist.