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Re: Joe Stocks post# 326809

Thursday, 11/25/2004 9:01:37 PM

Thursday, November 25, 2004 9:01:37 PM

Post# of 704047
Arbitrage programs are only about 11% of all program trades reported on the NYSE by the member banks.

the statement is correct, your interpretation is not. the percentage applies strictly to component-index arbitrage, it does not even attempt to capture the multitudinous array of other arbitrage opportunities.

...any further debate is pointless

i agree, as you clearly don't even know what program trading and arbitrage are.



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