my thoughts on line moves:
I'm tired right now, so I wont elaborate too much. Right now I dont pay attention to line moves in baseball too much, but I've been decent at taking good numbers before the line moves on dogs in the last couple of weeks. I determine a fractional probability of one team beating another and convert it to a moneyline for the majority of baseball games, and compare it to what is offered. If the line moves against me (a dog now pays less than previously) before I get can get down, then generally that is good as far as win% recently, except that a little value is lost. I dont increase a wager b/c of a line move in most cases b/c usually the lost value makes the price less attractive. Sometimes I'll come back and add more to a wager after the line has moved, and usually that is b/c I've taken a break, determined what each game is worth, and formed a strategy for the day. I rationalize about most of the games outside of the obvious numbers, and if I feel another angle adds even more value then I'll put more down on a line even if it has moved. I rarely try to determine who will win a baseball game, I only try to determine what PERCENT of the time a team will win, quite a few times the dog should be favored.
After this baseball season I may add line moves as and add'l angle similar to what I do in basketball and football. In football I probably look at 20 or more different things for each game, after a while half of it is subconscious. One of the ways that I use line moves in football is looking at who the public likes. A lot of line moves are from sharp action, a lot of line moves are from the public and it takes a while to know the difference. When the public is on one team in a big way and the line moves the OPPOSITE direction (luring more of the public, or a 'trap') fading the public action has been profitable for several years. But each situation is different and I dont do it blindly, but usually I already like the team opposite of who the public likes so when I see this situation I may go a bit higher, and I usually get ready to risk more on the 2nd half as well. A lot of people will say that there is no value fading the public, but those people dont know who the public is on, you need to book and have access to book info from several different regions to know for sure. During the regular season I do have plays that I would normally pass on, but make a small wager on b/c of line moves in other sports. In baseball I dont pay as much attention to line moves right now, I'm still trying to solidify a systematic approach for determining value and after a large number of plays determine what my edge is, THEN I may incorporate baseball line moves into that system. One of the problems with baseball line moves is that if you are playing a lot of dogs then a line move on dogs hurts you, it detracts from value. In spread sports if you lose a number, you can always buy it back, you pay more vig but if your distribution still shows value at -120 then it's worthwhile over time.