UPDATE: Mannkind (MNKD) slides following release of 'positive' data

As mentioned in my previous blog post, MNKD was a perfect short target due to its history of repetitive stock movement: false hype --> stock up --> faded interest --> stock down

Yesterday, I submitted an order for July $4.5 puts which got filled at a relatively high price, $.55.  About 24 hours later, I sold it for $.70 (27% profit) during MNKD's steepest drop this morning (10:06 am ET).  Once again, the 'Slide' strategy paid off in a very short time and this is why I continue to use it in most of my trades.  Congrats to those who also got a piece of this Mann'kind-ness'!

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