if you are thinking it is your water pump, get underneath the car and look for coolant stains on your oil pan. if the water pump is going bad it will start coming out the seep hole on the pump and will stream down.
otherwise carefully check your hoses. sometimes a leak is very small but due to the pressure going thru the engine it comes out looking like a larger leak than it really is making the crack in the hose hard to find.
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if you can only race me in a straight line then whats the point 
...91 SMF SCCA
http://www.flickr.com/photos/8341770@N07/5601083432/http://www.flickr.com/photos/8341770@N07/5601083432/ by http://www.flickr.com/people/8341770@N07/, on Flickr
I see people out there spending money on the car to improve it … If you spend half that effort just working on your driving skills, making you and the car work together as a team, then you’ll go faster – period. To make the car go a second faster on the track takes a lot more energy and money than making yourself drive it one second faster.
– the late Tom Thrash SCCA Solo E Production