The money starts going on Mitt Romney again
But will it turn after the Democratic convention?
If I wasn’t still on holiday in France at the moment I would be able to access my Betfair account to resume trading on the November’s White House race.
In spite of being in the EU the French authorities clamp down on Betfair and the betting exchange goes to great length to stop you from using your account.
Fortunately the latest move back to Mitt Romney was entirely predictable because contenders almost always get a convention bounce.
Chart based on BestBetting data
The question now is how long Romney’s upward movement will continue and will it be all change when the focus switches to Obama for the Democratic Party convention next week?
My guess is that it will and as soon as I drive off the ferry at Portsmouth on the weekend I’ll be looking to switch my position.
As I’ve explained here before my approach is not to bet on the outcome in November but to try to make trading profits by anticipating how the markets will move in the short-term.
Thanks to Marf for her take on the events in Tampa.