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Arbitrage is not such a big word, but it is an impressive concept, since the practitioner is being a bit presumptuous in guessing that he has identified an error in the usually oh-so-efficient markets. I wouldn't necessarily hunt these things out, since it can be dangerous, but in this case, I've been following this idea pretty closely, and it's hard to see this bet going seriously wrong.

Transaction fees are $29 for me, (robbery), against a $500 short-term gain. Taxable. OK, it's not a get-rich-quick scheme, but I'll take $470 before taxes if I can have it.

The spread is 50 lousy cents. But I was thinking of buying more of this stock anyways, (maybe not 1000 shares !), so I'll take my 50 cents or, if that doesn't pan out, I'll have a bigger stake than I intended in what I think is a good investment at a reasonable price.

We'll see. Regards, gg
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