post year 2000 buble buirst i looked into the possibility of buying one of the charting programs, sharescope included. i recall then when looking into purchasing data downloads that one particular vendor maintained his data is 'cleaned' as opposed to the raw data that may be on offer!
as with the issue of intraday high margin retracents i have noticed that such high margin retracements with respect to small cap stock and stock that cannot be evaluated using usual yardstics, sucha as pet that has no product yet and is purly evaluated on its potential, that a high margin of intraday retracemetn, particularly after hefty rises, does provide the signal for where the stock would be heading subsequently, down.
i suppose the logic is that with small stock, where data and research into their evaluation is thin at best or is simply not available, traders are eager to leave the stock having creamed off a reasonable amount of profit.
as usual, this phenomina cannot be applied globally, just when you think you have it all sussed out a stock comes in to violate all your expectations. but it is worth making a mental note of it. i also suggest that thin trading has the effect of augmenting such matters.
