Monday, 16 July 2007

Almost Laughable

Daily P/L: £108.93
Monthly P/L: £597.30
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Unfortunately, the weather played another huge role in tonight's Pro 40 clash and I can only hope that the sun decides comes out for the second half of the British summer.
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Derbyshire v Glamorgan
As I got home from work I was very surprised to see it was already the mid inning interval. I'd expected to tune in and see Glamorgan bat out their final overs but after suffering a middle order collapse all they could muster was a total of 165. On the surface this looked an extremely average score and the market had reacted by installing the Phantoms as 1.26 favourites. I didn't agree that their price should be as strong and as soon as their first wicket fell I lumped on a lay for £644 @ 1.30. With hindsight this was a great move as their second wicket fell a few balls later leaving them in a pickle at 11-2 and myself in a very strong position. The Derbyshire price was drifting but seemed to peak a few minutes later so I decided to back them @ 1.46 and re-assess.
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I'm not sure that getting out and re-evaluating the market is a strategy that makes my trading the most efficient but I'm certain it's allowed me to miss plenty of losses through indecision. This all adds up in the long run and once I'd convinced myself that the Dragons were close to flip flopping the market I laid Derbyshire again. I'd only managed to get £296 matched (most of it at 1.62) when the rain started to belt down and the market began to spiral out of control. Glamorgan were comfortably ahead on the Duckworth Lewis scoring system and with this in mind plenty of punters were trying to bail out. The bad thing for me here was that only 9 overs had been bowled meaning that unless another over could be fitted in it wouldn't be classed as a 'game' - so what do the umpires decide to do? That's right - take the players off! I hate leaving positions run in these situations so I greened up by placing a back at 2.00. I was looking at a healthy profit but only if the players came back on and another 6 balls were bowled. For an hour and a half I twitched in my seat until play resumed but it was worth it in the end. I'd wasted £11.67 on the completed match market taking out some insurance but finished with a profit of £108.93 on the match overall.
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Hopefully the Twenty20 Cup Quarter Finals can now dodge the rain and give us some action.
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