Recently I took a deep breath and punched up a watch list, that at first I was apprehensive in doing as it would show something I may have wanted to be private... as luck would have it, the market was running and a monkey could throw darts and make good picks... it helped a bit, that I did have some experience.
Unbeknown st at the time of punching it up though, was that it would turn into a visionary tool that I had long been losing out on out of fear, seems the portfolio watch list (and I suspect other site watch lists have the same quality) shows the overall % rise of the individual stocks, with a reversal column that measures the back fill... Duh! In an simplistic way this particular watch list is pretty basic compared to others, but that simplicity is definitely a pound of cure.
We often talk about back fill, which is an easy word to define as low volume selling in an up trend, usually intraday, sometimes expanding to pennants or flags, that occurs as a normal transfer of shares in the quieter times, where exuberance is under a leash; healthy and necessary.
I had never found an effective tool or method of measuring back fill against the performance of the up trend. 10 YEARS AT THIS AND THAT IS PATHETIC. One of the easiest methods to measure your style, choice of issues and finally a big picture look at the state of the market in the sector of your choice.
Not that I haven't held my own, just that I never had run across it being passed on as a noteworthy side benefit in all my travels.
I recommend putting up a chart list in SH... it will be an eye opener!
GLTA Lostoutwest
Kenuck SmallCap Trader
Stockhouse
Track My Trade - this is a link to an off site I follow, and have no affiliation with.
National Post
Grandich
StockCharts Public Chart List
CBCnews
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