I've started playing some more shred-oriented songs, and have also started strengthening my finger, but I have discovered a problem. When I play with my pinky, I can't keep it low on the fretboard, instead it sticks out really high, and makes it less responsive. I've tried different excersises but haven't found any ones that work.

Recommendations anybody?

I wouldn't worry about it too much, watch other guitarists who shred and their pinkies are way high in the air, too!
Quote by rebelmidget
I do believe you just used Blink 182 and hard rock in the same sentence. It would seem you're rather confused.
I have a quote in my signature! And it makes fun of blink-182! I'm cool now!

[Obligatory link to my band's MySpace]
This happens to most people. Practice slowly, keeping it close. And by slowly, I mean very slowly.

It'll be painfully slow, and you'll get bored almost immediately, but it's the only way unfortunately.
lol, same here. I found an old vid of me playing guitar after about 3 months, and my pinky is almost perpendicular to the guitar! the best u can do is have it on the fretboard when u need it. If i need to play something with my pinky, i have no problem. but when its not needed it sticks straight out like a... tree branch.