Monday, November 23, 2009

Covered short of KITD

On October 8th I mentioned that I shorted KITD at $11.55. Today I finished covering it at $10.31 for a slightly better than 10% return. I tried to cover in the $9s a couple of weeks ago for a 15% return, but didn't get a fill - one of the challenges of shorting a low volume stock. Not exactly a home run, but not a bad return for a short position during this increasingly frothy cyclical bull rally.

I may decide to short KITD again, but in the meantime, I'll check the screener and message boards on ShortScreen and look for some more attractive short candidates.


Paul Price said...

Try Tata Motors - TTM

DaveinHackensack said...

I'll take a look at it.

Did you watch the SNL video in the previous post, Paul? If not, give it a watch. I think you'll like it.

Paul said...

I saw it elsewhere.

Not their very best, but it's good to see they're not completely left-wing and can be equal opportunity critics.

I'd be curious how TTM looks on your Altman-Z score board.

DaveinHackensack said...

ShortScreen doesn't include ADRs in its database, so TTM won't be there. But a quick glance at its financials shows that they aren't pretty.