I'm interested in breaking up my trading strategies into long and short baskets to help increase and balance diversification. I was wondering if anyone had any good suggestions on the best way to quantify the strength of a stock vs other stocks or vs the market. I was thinking tracking daily % change and gauging the rate of change / acceleration may be a good place to start, but it seems a bit overly simplistic. Is there a generally accepted methodology for gauging stock strength which is fairly decent that someone could point me towards? Thanks.