Thanks for that information - I wouldn't have thought that would be too detrimental to his chance unless he was behaving unruly.
Today's Horse Racing
You are correct Derek, the horse wasn't behaving particularly unruly and that wasn't the cause of the drift.
The market reacted not to the tongue tie being repositioned but from the moment it was announced on course that the horse would be running without one of its fore shoes then there was a second reaction when this was announced by the TV presenters.
It sticks in my mind as it was the reason I opened my lay of the horse as you could hear the announcement in the background and then when it was picked up by the presenters I added to my position.
"Race 7 - 4:55pm
THE ROA/RACING POST OWNERS' JACKPOT FILLIES' HANDICAP STAKES (CLASS 5) (DIV I)
HYPERACTIVE arrived at the start without its left fore shoe. As James Fanshawe had not stated, at declaration, HYPERACTIVE should be withdrawn if it lost a shoe, the filly ran without it."
When I was a punter I often had a small bet on a massive drifter if I thought it was value and in the absence of any obvious reason for the drift. Every horse has a price, and these drifts usually go through the horse's true price.
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A lot of drifts do seem to be overdone lately
I wonder if this is an unintended consequence of increased use of automation in markets, I also think automation is also causing larger and sudden movements in prices.
I believe in the last few years automation is causing 'enhanced' price moves when something occurs to set it off, as bots begin triggering they will fuel the overreaction
+1
I have seen Peter tweet quite a few times about how he has seen moves in big races that should really not be happening (words to that effect).
I think I saw him mention on a recent video that he has a straight betting strategy now that takes advantage of the "enhanced" price moves so they are creating opportunities for some and for others I am sure they are causing issues.
You can often see the market react with leap frogging as I call it that is so fast that I feel it must be automation causing it as it happens so quickly I can't see humans reacting fast enough to be the cause.
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