A very impressive performance from Memory in the Gr.2 Cherry Hinton Stakes has taken her to the top of the two-year-old fillies rankings.  Here are the current top rated fillies (with their Racing Post Ratings and form figures):

109    Memory (R.Hannon)  -111
107    Maqaasid (J.H.M.Gosden)  -11
106    Meow (D.Wachman)  -212
105    Ladies Are Forever (G.R.Oldroyd)  -13
104    Margot Did (M.L.W.Bell)  -112
103    Soraaya (M.R.Channon)  -12
102    Hooray (Sir M.Prescott)  -183
100    Seeharn (K.Prendergast)  -11
100    Keratiya (J-C.Rouget)  -121

Memory has been allowed 6lbs for her easy three-quarters of a length victory, but she was probably value for more.  The beaten fillies may have been overrated, but the Bolger filly gives the form a solid look.

It's interesting to compare her achievements (RPR 109 after three starts) with the form and ratings achieved by some other smart fillies at a similar stage of their careers in recent years:

Attraction was rated 116 after four starts (including her impressive win in the Queen Mary) and 117 after five starts (following her win in the Cherry Hinton).
Divine Proportions was rated 111 after just two starts (including an easy 4 length win in the Prix du Bois)
Damson was rated 110 after three starts (including a 3 length win in the Queen Mary)
Flashy Wings was rated 110 after three starts (including a 3 length win in the Queen Mary - the same as Damson)
Sander Camillo was rated 116 after three starts (including a 5 length win in the Cherry Hinton)
Natagora was rated 104 after three starts (including an easy 4 length win in the Prix la Fleche) and 110 after five starts (including her win in the Prix Robert Papin)
Rainbow View was rated 112 after just two starts (including a 6 length win in the Sweet Solera)
Cuis Ghaire was rated 105 after two starts (including her win in a Group 3 at Naas)
Fantasia was rated 105 after two starts (including the Prestige Stakes) and 110 after three starts
Misheer was rated 108 after four starts (including her 3 length win in the Cherry Hinton)
Special Duty was rated 115 after just two starts (including her win in the Prix Robert Papin)
Lillie Langtry was rated 107 after four starts (including her win in the Debutante Stakes)
Lady Of The Desert was rated 105 after three starts (including the Princess Margaret Stakes) and 112 after four starts (including her 3 length win in the Lowther)

Memory (RPR 105 after two starts and 109 after three starts) compares quite well with a number of these fillies and is roughly on a par with the likes of Damson and Flashy Wings at this stage of her career.  But at 8/1 she's the same price for the Guineas that Rainbow View was after the latter's Sweet Solera win (RPR 112) and a shorter price than Sander Camillo after the latter's Cherry Hinton win (RPR 116).  She's also a fair way behind Attraction and Special Duty.  But a rating of 109 after three unbeaten starts marks Memory out as a smart filly who will need to improve by only a few more pounds to make an impact in the Guineas next year.

Maqaasid (RPR 107 after two starts) is the only other really smart filly we've seen so far this season, but she's unlikely to get a mile (in my opinion).

margot did easy easy easy easy!

Laughing Lashes, snaff.

(for Godolphin)

The one i fancy runnin at Galway tonight

I still think Channon's Fork Handles could make the frame although she may well be a 10-12f 3yo. I do believe she has some class about her though and one to keep on the right side of.

The Gr.3 Sweet Solera Stakes and Gr.2 Debutante Stakes produced solid but unspectacular wins for White Moonstone and Laughing Lashes, who are each available at 25/1 for the Guineas.  White Moonstone looks a filly of real potential, though, and she remains unbeaten after just two starts.  She showed a very good turn of foot to win her race and kept on strongly to hold off the progressive Crying Lightening.  At the Curragh Laughing Lashes comprehensively reversed earlier Gr.3 form with Together (who seemed to run below form) and is clearly on the upgrade.  The next big fillies' race will be the Lowther at York next week, with possible leading contenders including the first three home in the Queen Mary (Maqaasid, Meow and Ladies Are Forever) and the first three in the Princess Margaret (Soraaya, Margot Did and Perfect Tribute).  Wild Wind (one of Aidan O'Brien's possible Lowther runners) would be an interesting contender: on debut she was narrowly beaten by the useful Seeharn and next time won a 7f maiden from Laughing Lashes. 

At this stage Memory fully deserves to be clear favourite for the Guineas, but I have been impressed by White Moonstone and Helleborine.  There has been a bit of a move for Theyskens' Theory, a wide margin maiden winner for Brian Meehan, but we'll have a better idea what that form is worth when the runner-up Blue Bunting runs later this week.

Here are the latest top-rated fillies (according to Racing Post Ratings).  The Cherry Hinton form has been reassessed (up two pounds, moving Memory up to 111), and Laughing Lashes is up to second spot:
111    Memory (R.Hannon)  -111
108    Laughing Lashes (J.Harrington)  -221
107    Maqaasid (J.H.M.Gosden)  -11
106    Soraaya (M.R.Channon)  -121
106    Meow (D.Wachman)  -212
105    White Moonstone (Saeed Bin Suroor)  -11
105    Misty For Me (A.P.O'Brien)  -012
105    Ladies Are Forever (G.R.Oldroyd)  -13
105    Margot Did (M.L.W.Bell)  -1122
104    Pontenuovo (Y.De Nicolay)  -21
104    Hooray (Sir M.Prescott)  -183

Blue Bunting certainly didn't let Theyskens' Theory's form down at Donny. She may have been slightly fortunate to win but together with the runner-up she pulled well clear of the third and I suspect both are smart.

Theyskens' Theory put up a very decent performance on the clock as well as on form at Newmarket and she's a serious contender for the Guineas.

The overall time at Doncaster was surprisingly slow and I suspect the first two pulled well clear off a steady early pace. In other words, it was probably more of a test of speed than might have seemed the case.

The Lowther burst one Guineas bubble (the doubtful stayer Maqaasid), at least temporarily, and merely served to underline the form of Guineas favourite Memory, who beat the first two home in the Lowther (Hooray and Margot Did) earlier this season.  Memory has understandably shortened further in the Guineas betting and is now as short as 5/1 with some firms.  The Lowther result also boosted the form of Soraaya, who finished ahead of Hooray in the Cherry Hinton and beat Margot Did in the Princess Margaret Stakes.  Soraaya was still available at 33/1 for the Guineas on Friday morning with one firm, but the price disappeared while I was trying to place a bet on her!  Soraaya is due to run in the Gr.1 Prix Morny at Deauville on Sunday, where she seems to hold a decent each-way chance if she handles the likely yielding ground.  Cheveley Park Stakes entries Keratiya (who beat the subsequent Gr.2 Prix Robert Papin winner Irish Field earlier in the season) and Pontenuovo (runner-up to Helleborine on her debut and winner of the Gr.3 Prix de Cabourg last time out) are also serious contenders for tomorrow's big race.  This afternoon the progressive Crying Lightening holds an obvious chance in the Gr.3 Prix du Calvados at Deauville, where she can look to build on her excellent second in the Sweet Solera Stakes last time, but I'll also be looking for a good performance from Militante (placed behind the impressive Helleborine last time over course and distance).

Here are the latest top-rated fillies (according to Racing Post Ratings).  I don't agree with the high ratings given to Hooray and Margot Did: with Maqaasid failing to give her running, I reckon the first two didn't need to improve on their earlier ratings, and there's a suspicion that Margot Did could have improved on her finishing position if the gaps had appeared at the right time.  There is no earthly reason why Memory should only be rated one pound ahead of Hooray or why Soraaya should be rated below both Hooray and Margot Did (both of whom have finished behind Soraaya in recent outings).  For some reason Memory's rating has been dropped by one pound, and the Debutante Stakes form of Laughing Lashes has also been reassessed (up two pounds):

110    Memory (R.Hannon)  -111
110    Laughing Lashes (J.Harrington)  -221
109    Hooray (Sir M.Prescott)  -18361
107    Margot Did (M.L.W.Bell)  -11222
107    Misty For Me (A.P.O'Brien)  -012
107    Maqaasid (J.H.M.Gosden)  -11
106    Soraaya (M.R.Channon)  -121
106    Meow (D.Wachman)  -212
105    White Moonstone (Saeed Bin Suroor)  -11
105    Ladies Are Forever (G.R.Oldroyd)  -13
104    Pontenuovo (Y.De Nicolay)  -21

There have been two notable movers in the 1000 Guineas market: Theyskens' Theory is in to 12/1 (as short as 8/1 in places) following her comfortable win in the Gr.3 Prestige Stakes this afternoon (16/1 was available with a couple of firms straight after the race), and Criquette Head-Maarek's filly Exemplify (a half-sister to Special Duty), who won the Prix des Marettes at Deauville recently, is around 14/1 following some sustained support (16/1 still available in places at the time of writing).  The Prestige form looks a little shaky - the winning time was slow (compared with the 7f handicap on the same card) and the 75-rated Masaya was only beaten 3¼l in fourth - but Brian Meehan's filly won very comfortably and is clearly a very smart prospect.  The Fillies' Mile looks to be between Theyskens' Theory, White Moonstone and whatever runs well in tomorrow's Moyglare Stud Stakes at the Curragh.  Exemplify is well entered up and could run next in the Gr.3 Prix la Rochette against the colts before a crack at either the Cheveley Park Stakes, the Prix Marcel Boussac or the Prix Jean-Luc Lagardere.  Although she won over a mile on her debut Exemplify has more than enough speed for the Cheveley Park (according to her trainer), although my idea of the likely winner of the Cheveley Park at this stage is Yves de Nicolay's filly Pontenuovo (who should eventually get 7f but is a doubtful stayer as far as the Guineas is concerned).

Memory, clear favourite for the Guineas, takes her chance in the Gr.1 Moyglare Stud Stakes at the Curragh tomorrow.  The ground should be fine for her, but I'd be a bit concerned about the fact that the stable's juveniles are not quite in such invincible form as they were a few weeks ago, and the step up in trip to 7f against fillies already proven over the distance means that she will have to progress to another level to maintain her unbeaten record.  A convincing win would see a further collapse in her Guineas odds, but a defeat (especially if it looks as though she fails to stay 7f) will see a real shake-up in the Guineas market.  Her supporters should take heart from the recent interview given by Richard Hannon Jr on Racing Post TV in which he said that she was probably the best two-year-old in the yard (by which I assume he meant that she is rated better than Strong Suit et al).  Laughing Lashes is a smart and progressive filly but she will need to improve again to lift the Moyglare.  It's anyone's guess which of the Ballydoyle fillies will turn out to be the best.  It is a fascinating and potentially very informative renewal.

Helleborine, a general 16/1 chance for the Guineas, could run next in the Gr.3 Prix d'Aumale at Longchamp as a prep for the Prix Marcel Boussac on Arc weekend, or she may go straight to the Cheveley Park Stakes over 6f or the Prix Jean-Luc Lagardere (against the colts) over 7f.  Pontenuovo, who moved up to 107 in the Racing Post Ratings following her excellent third in the Gr.1 Prix Morny at Deauville, will go next for the Cheveley Park Stakes, while the progressive Mambia (RPR 105 following her victory in the Gr.3 Prix du Calvados) heads for the Prix Marcel Boussac.

Everyone is saying that Memory was disappointing today in the Moyglare Stud Stakes, and at first glance that's fair enough, but it would be premature in the extreme to write her off after one poor run.  Something seems to be amiss with the Hannon two-year-olds, as several have disappointed recently (notably Strong Suit, Libranno and now Memory).  The ground seemed to be loose on top, which certainly wouldn't have helped any of the fillies trying to make up ground from the rear.  I think it's significant for the future that the first four fillies all had a hard race: the winner Misty For Me was hit about 12 times with the whip, the runner-up Laughing Lashes was hit at least 8 times (and flashed her tail in response), Kissable and Together were each hit about 10 times.  Memory was not hit once by Richard Hughes and that kindness should pay dividends in future, as she simply never had a race today.  I'm very tempted to go in now and back Memory at 12/1 for the Guineas, as that's a massive over-reaction by the firm in question; she's 8/1 or 10/1 with other firms.  Misty For Me is in to a top price 14/1 for the Guineas, but she doesn't really appeal to me as a Guineas filly - she's by Galileo and looks a real stayer in the making, simply not quick enough to make an impact over a mile next year.  She had a hard race today and I wouldn't be in any hurry to back her if she reappears this season.

Theyskens' Theory is now favourite in some books (odds ranging from 6/1 to 10/1).  Exemplify has been cut to 12/1 with several firms, all the 16/1 seems to have now gone.  At this stage the ones I really like are Memory, Helleborine, Exemplify, Theyskens' Theory and White Moonstone.  I'd add Pontenuovo to that list if I thought she would get a mile.

Theyskins Theory didn't look to have the pace of a Guineas winner for me. Memory may not be best at a mile and the only one that interests me may not go there. Holding fire as with the pathetic effect of the draw at Newmarket with rain the best horse may only have. 50:50 chance of being in the shake up let alone winning. Strong Suit 35s may be worth the risk but not sure on these short fillies prices.

I like an ante post flutter and even i'm not tempted by any prices just now. I have an overwhelming feeling that absolutely nothing will look remotely like value until the season is over and everything can be assessed in hindsight. Good write ups though James as usual. Taking prices as early as some might have means you also have to incorporate the prices they will be for each of their individual races still to run this season. For example, if you took 8/1 for memory for the guineas you have to remember that she still has races to run, and even if she wins them you are getting a rotter of a price.

Interesting point you make about the Whip use James.

At the moment this is looking like a day of the race market with the skinny prices avaiable.

It's not often that one sees three performances in the space of just over 24 hours that elicit the simple response 'WOW', but that's exactly what happened on Thursday and Friday.

First up, a sensational performance from Freddie Head's filly Moonlight Cloud in a 7f conditions race at Longchamp, which had to be seen to be believed.  She simply oozed class, cantering all over her rivals before quickening away in an instant, eased down to win impressively by 6 lengths.  The form probably doesn't amount to a great deal, with the second, third and fifth all making their debuts, and the fourth Uldiko with prior form figures of 8657616586 (well beaten in Listed contests, including tailed-off last of eight behind Mambia on penultimate start).  But the winner showed a lot of speed and a superb turn of foot and won very easily indeed.  She looks a very smart filly.  I was so taken by the performance that I backed her speculatively for the Guineas (I was quoted prices ranging from 12/1 to 40/1), though there have to be doubts about her participation at this stage.  Although she's by Invincible Spirit I think she'll get a mile: her half-brother Cedar Mountain (by Galileo) was a useful 12-14f winner and her half-sister Lakuta (by Pivotal) won over 9-10f; her dam Ventura (by Spectrum out of a half-sister to Generous and Imagine) won twice over a mile.  She's now unbeaten in two starts and probably heads next for the Gr.1 Prix Jean-Luc Lagardere, where she will surely give the colts plenty to think about.  Freddie Head considers her to be possibly the best two-year-old he has ever trained.

Half an hour later, Helleborine pulverised her rivals in the Gr.3 Prix d'Aumale.  They went no pace for the first six furlongs, with Helleborine  held up in last place, travelling easily.  The leaders started to quicken entering the straight, Helleborine came there travelling strongly, quickened impressively under hands and heels and soon put daylight between herself and the others to win easily by 5 lengths.  The winning time was very slow, reflecting the slow early pace, but it was still 3.4 seconds faster than the Prix de la Masseliere (run over the same course and distance half an hour later).  Straight after the race her Guineas odds ranged from 8/1 to 16/1 (the latter price reflecting the slowness of some bookmakers to revise their prices).  She heads to the Gr.1 Prix Marcel Boussac with a favourite's chance.

Just 24 hours later White Moonstone was a very impressive winner of the Gr.2 May Hill Stakes at Doncaster.  Previously unbeaten in two starts (including the Gr.3 Sweet Solera Stakes at Newmarket), White Moonstone didn't need to improve on her Newmarket form to win easily, with the only possible danger Midnight Caller failing to live up to expectations, but she was much more impressive this time, showing plenty of speed and very good acceleration to put plenty of lengths between herself and the opposition, before being eased down to win by 5 lengths.  There is plenty of speed on the dam's side of the family (the dam Desert Gold is by Seeking The Gold out of a full sister to the Breeders' Cup Sprint winner Desert Stormer) and Godolphin view her as a Guineas filly rather than an Oaks prospect.  The 12/1 available with one major firm for the Guineas looks good value.

So where does this leave the market for the 1000 Guineas?  Moonlight Cloud is far from certain to be aimed at the Guineas and is not generally quoted for the race.  Helleborine has shortened from 16/1 to a best price 12/1 (as short as 8/1 with two major firms).  White Moonstone is now as short as 6/1 favourite, but a stand-out 12/1 with one major firm.  Exemplify, well beaten at Longchamp on Thursday in a conditions race, was a general 12/1 shot but is no longer quoted by some firms and is unlikely to run again this season.  Theyskens' Theory, the Prestige winner, is a top price 10/1 and Misty For Me, the Moyglare winner, and Memory are both available at 12/1.  So by shopping around you can get 10/1 the field. 

At this stage the two that have impressed me most are Helleborine and White Moonstone.  Both have won impressively over a mile in pattern company against useful opposition and will probably run once more this season - Helleborine in the Prix Marcel Boussac and White Moonstone in the Fillies' Mile, where each will take plenty of beating.  Memory is well worth another chance after her disappointing showing in the Moyglare and should not be underestimated in the Cheveley Park Stakes, where Hooray and Pontenuovo are her main rivals.  At current odds Theyskens' Theory does not appeal at 10/1: it's a very skinny price based on what she has actually achieved.  Misty For Me is clearly a very useful filly but it didn't look a vintage renewal of the Moyglare Stud Stakes, with less than two lengths covering the first four (all of whom appeared to have a hard race), so she doesn't particularly appeal at 12/1.

Here are the latest top-rated fillies (according to Racing Post Ratings):
113    Hooray (Sir M.Prescott)  -183611
113    Misty For Me (A.P.O'Brien)  -0121
111    Memory (R.Hannon)  -1116
110    White Moonstone (Saeed Bin Suroor)  -111
110    Laughing Lashes (J.Harrington)  -2212
109    Kissable (K.Prendergast)  -2133
108    Together (A.P.O'Brien)  -31134
108    Margot Did (M.L.W.Bell)  -11222
107    Helleborine (C.Head-Maarek)  -111
107    Pontenuovo (Y.De Nicolay)  -213
107    Maqaasid (J.H.M.Gosden)  -114
106    Dingle View (P.D.Evans)  -4113131
106    Soraaya (M.R.Channon)  -1218
106    Meow (D.Wachman)  -21210
105    Theyskens' Theory (B.J.Meehan)  -911
105    Mambia (J.Boisnard)   -421111
105    Ladies Are Forever (G.R.Oldroyd)  -13

Hooray, comfortably held by Memory on Cherry Hinton form, looks significantly overrated on 113: the Sirenia Stakes form looks very dubious and cannot sensibly be rated any higher than about 100.  I suspect that the Moyglare Stud Stakes form of Misty For Me, Laughing Lashes, Kissable and Together has also been overrated.

Did you see the debut victory of Alanza - John Oxx / Aga Khan at Listowel last Monday?

Well she looked impressive, but I suspect that Alanza was flattered a bit: it looked a classic case of the leaders going off too fast in testing ground.  Also, the Listowel form is only moderate: the third had been beaten twice at Tipperary (with Racing Post Ratings in the low 60's).  Having said that, the winner is clearly a very promising filly who is bred to do even better over a mile (being by Dubai Destination out of Guineas-placed Alasha) - she holds an entry in next year's Irish Guineas.  The bare form is nothing special, but she is definitely one to watch out for.  It will be interesting to see whether John Oxx decides to enter her in the CL Weld Park Stakes at the weekend.

I cant see her being 7/4 with a string of ones next to her name. Looks a good race.

I'm 100% with you on White Moonstone for the Guineas and I'm hoping that she wins comfortably on Saturday.  I'm not saying I would lay the 7/4: the prices are my idea of what the odds should be, but it will be no surprise to see White Moonstone as short as 5/4 or even 11/10.  If she is poor value for Saturday's race I will consider back something else for the race, purely on a value angle, depending on whether anything else looks significantly overpriced.  Considering that White Moonstone, Theyskens' Theory and Misty For Me can all be backed at around 10/1 for the Guineas, I doubt whether WM will be too skinny a price.

I'm not ruling out another Ghanaati scenario, but it's extremely unusual for a 1000 Guineas winner not to have competed in at least one Group race as a juvenile.  I agree that at this stage it's an open-looking Guineas, but obviously that could all change in the next two weeks, with the key trial races - the Fillies' Mile, Cheveley Park Stakes and Prix Marcel Boussac - fast approaching.

I Love Me is a promising filly, but the form of her win the other day is no better than that of an average Newmarket maiden race in my opinion.