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Daniel Sermersheim » Comments » UCR
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Another Macroshares Oil Arbitrage Opportunity [View article]
I think you have the definition of arbitrage wrong. I'm sure you looked it up somewhere, but this is for sure arbitrage. Your definition is too narrow. Arbitrage, in general, is playing both sides, both short and long, of a position, in order to take advantage of a spread that the arbiter thinks is to wide.