I think following steam is not a very useful angle in itself but combined with another it might be good, like say if you know the public is on one side but the steam is on the other side then it's safe to assume the "smart" money is moving the steam and so following steam in this case is probably a good idea.
Then again what do I know, I'm getting my ass handed to me in the only contest I'm in (hockey).
Then again what do I know, I'm getting my ass handed to me in the only contest I'm in (hockey).