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Strategies & Market Trends : Investor sentiment surveys - a technical indicator

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To: Andy H who wrote (31)4/5/1997 3:23:00 PM
From: Mat Miller   of 167
 
Andy,

Call/Put ratios do seem to give a good sentiment indication. But I wonder how much 'noise' is thrown in by arbitrage?

Also, would arbitrage be more likely during a 'wild' market with prices swinging all over, or in a sedate one where the differences in prices could be nailed down more easily? In other words, does the 'noise' level change?

Mat
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