I agree, you probably could get a better return by obtaining top fluctuations. What are the criterian for this. Do you have to place your bet 30 mins prior to the race? I heard one bookie mention that, I am not too sure. The problem with bookies is that they usually give less value on the favs than what the tote offers.
Some of these favs are only determined in the last 2 minutes and you may have to decide which of the 2 or 3 horses will ultimately become fav. Look to be honest, you probably won't win too much or lose too much with this method. If you like this method then stick with it. I just enjoy seeing the champion horses running around even if I am not betting on them.
Good luck and do whatever you enjoy doing.
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