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Strategies & Market Trends : Pitbull Investing Strategies
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To: Doo who wrote (360)10/3/1997 8:21:00 AM
From: Atin   of 789
 
Hi,

I went to Pitbull's web page and downloaded their previous week's short spreadsheet (gives a 1 week advantage since you can take their spreadsheet instead of going through the newspaper yourself on Week 0).

There were three shorts this past week (that I saw): AATT, TSK, KLIC. If I'd shorted on Friday's close, I'd have had a gain of about 8 points yesterday morning and that was mostly KLIC (it fell like a rock but is turning up now). That profit is now down to 4 points because KLIC turned back up. KLIC looked like a long to me based on their history and earnings estimates but it has been hit recently due to their high P/E. The others are low P/E stocks (relatively speaking for high flyers) and I doubt they're going to fall too far.

I have an added criteria when looking at Pitbull shorts, I would only consider shorting stocks that in addition to meeting Pitbull criteria, also have a high P/E and a high number for the "Fool ratio" (Motley Fool's, P/E divided by estimated annual growth rate). Like Pitbull stuff says, their shorts have been getting hit lately because every high flyer that gets cheaper is instantly bought up by people looking to get in. But that might be changing -- I actually made a little money on shorting MANU and it was Pitbull that pointed the stock out to me. I didn't short right then though and so wasn't stopped out too quickly like Pitbull was.

Good luck all, I've started paying attention to shorts a lot lately because Pitbull longs have been coming up empty which might tell us something about the market.

-Atin
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