Steve,
Go to Yahoo Finance's screener...
http://screen.yahoo.com/stocks.html
Screen for price/sales ratios of at least 15 with a market cap of at least $1 billion. I just did it and got 47 stocks. An example would be Ask Jeeves (ASKJ) with a p/s of 16.6.
The book also says that the market should be in what they call a "red light mode" according to their three indicators (I would substitute the COT with maybe a declining 40-week moving average for their indicators). It also says to make sure the stock has been going down for at least six straight weeks. It also says to use a 25% trailing stop and not to risk more than 1% of your account on each trade, which means that most accounts will be trading odd lots.
You get out if either of two conditions occur. If their market barometer switched from red light to yellow (again, you could substitute the COT). Or if you got stopped out.
The part that I don't agree with is the condition that the stock should have gone down for six straight weeks before you enter a short position. The reason I disagree with that is it has been my experience that a stock like that is likely to have a sharp reflex rally. Of course, I guess if you're using 25% stops it doesn't matter.
Larry