Apple's Option Problems come to a head

My big mistake of the year? Not backing up the truck in the low 50’s on Apple. The reason – SEC option pricing investigation.

The stock has rallied over 30 percent from the lows.

This morning, Apple said that the option pricing issue may force restatements back to 2002 (that means 2000 :) )

I like that they are coming clean fast.

Today, on an ugly day for the markets, Apple fell just 2 percent to $68 and change. Still up 30 plus percent since the lows a few weeks back, despite the news and potential scandal.

What a giant f@#ck up by me.

I am sitting at the packed Apple store in San Francisco watching laptops fly out the door.

I will be lucky to see low 60’s again this year – Here’s why:

1. Great advertsising campaign – the rich dude Apple user/stuffy PC user is funny and is very human.2. Huge Back to School and Christmas coming for iPods and Laptops, and3. Smart deal for integration into GM, Ford and Mazda – Maybe the final dagger in XMSR and Sirius (it will be a slow painful death)4. Nike shoe partnership5. ONE MEGA ANNOUNCEMENT

Bad mistake BY ME.