Dummy Trade of the Day - Apple Computer, Inc. (Public, NASDAQ:AAPL) Cont'd

Here's a completed view of the AAPL trade. I spent a lot of time on this entry and the only thing that kept me hanging in was the volume pattern on the 5 minute timeframe below. The volume was much higher on the early rallies than on the pullbacks. The 15 minute timeframe really didn't look all that compelling and I was hoping that it wouldn't just trade sideways all day as I had invested too much time on it. The trigger was the close of the 6th bar on the OR high. The entry was a break of the sixth bar high. The blue lines represent support and resistance areas. I took a partial profit as price approached $80.00 because on the daily chart, this was a key technical area and secondly because of the round number significance.

The chart below shows the AH trade. The last bar traded over 125,000 shares. And Briefing.com notes the following:


Chief Executive Steve Jobs was given 7.5 mln stock options in 2001 without the required authorization of the board of directors, The Financial Times reports on its Web site, citing people familiar with the matter. The FT reported that records that purported to show a full board meeting had taken place to approve Jobs' remuneration, as required by AAPL's procedures, were later falsified. The sources said that those records are among the pieces of evidence being weighed by the U.S. Securities and Exchange Commission as it decides wither to pursue a case against the co or any individual over the affair. According to a 2002 filing by AAPL, the options under review were handed to Jobs in October 2001, at an exercise price of $18.30 a share. However, the FT said, the purported board authorization was dated near the end of the year, suggesting the benefits were both not properly authorized and were backdated. Jobs later surrendered his options before they were exercised, implying that he didn't gain any direct benefit from them. he was later given a grant of restricted stock by AAPL instead.