I hope Dave Nevison doesn't mind me taking a little extract from his very decent book No Easy Money - A Gambler's Diary ( http://www.amazon.co.uk/No-Easy-Money-Gamblers-Diary/dp/1905156480/ref=sr_1_1?ie=UTF8&s=books&qid=1244794758&sr=8-1)
In it there are a couple of interesting paragraphs on his thoughts on market movers. It's funny that there seems to be a pretty long held belief among some racing enthusiasts that people who follow the money (i.e sheep/lemmings etc) will be up against it to win over time.
Anyway in his book Dave appears to have at one time held this view, but is now changing his mind.
"My approach to fixed-odds betting still works but, increasingly, I think I need to adjust it, and in a way that is difficult for me. Although I've got only a limited amonut of research to back this up, I believe that market movements are now more significant than they used to be and that I have made less money thank I could have done recently because I have continued to put my tissue before the market. As I have suggested earlier, I should probably give more weight to late changes in market sentiment and keep backing horses when they pass through my tissue rice in a positive direction, while resisting the temptation to back those moving through my tissue price in a negative direction. I don't find that easy, because it involves reshaping my concept of value, and I am in a transistion phase with it."
I find it all quite interesting anyway, although I've found that this importance in the of the market to have been in place for a few years now.
Right better get off to work. Here's to another decent day ahead.