Goodwood should have been renamed Greywood at the start of the 2017 festival, such was the miserable weather that accompanied what should have been a glorious week on the Sussex Downs. But it was notable for one particular day. A day that brought a trade that a lot of people picked up.
The weather had a huge impact on the meeting in 2017 and produced a below-par performance from me and from the markets. I’d imagine most attendees on course spent most of their time hiding from the incessant rain and the bookies saw much less of their cash.
We were treated, however, to another jockey gamble, as I’ve often highlighted before. I’ll probably do a video on it as it deserves proper attention. But in a nutshell here is how it panned out. It was the highlight of the entire week and worth waiting for.
It’s a set-up
13:50 – The day started with a moderate trade on the favourite ridden by Ryan Moore. ‘Poets World’ had its price held up at 3.00 under a lot of pressure which eventually broke and set off a mini move to the low 2.80’s. You can actually see this on the trading video I uploaded last weekend. Ryan Moore steered his mount to a win.
14:25 – The appropriately named ‘Beat the bank’ was the favourite and also ridden by Moore. It set off a carbon copy trade of the first race. I also recorded this video but haven’t uploaded it (yet). Moore road that to a win. This prompted a question: –
I waited eagerly for the surge of money, but if never really came. It did for a bit but not in any strength. The race was a competitive handicap so it sort of made sense that people didn’t go crazy for the next runner, but it was a little disappointing. Maybe the rain had kept the punters indoors and drunk enough to not spot the ‘opportunity’. The horse went off more or less where it started before the prior winner.
15:35 – Moore wasn’t watching the market however and stormed home to another winner, at big odds this time. That was enough for the floodgates to open. About two furlongs out I had the tweeted prepared and as he edged the horse over the line I hit enter.
Feeling that maybe my instruction wasn’t clear I sent another, more detailed summary, of what would happen next. It was a link to a blog post offering great detail on when this happened before: –
Of course, the resultant move may not have been confirmed in the market. But fairly quickly it was obvious that every mother and their son was piling in on the next Moore runner. As we approached post time the market was getting really hot and a confirming message gave everybody a clear message on the market’s intentions. Let’s hope it’s not too long before we see an opportunity like this again, it was great fun and a highlight of the 2017 meeting.