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In my humble opinion, if the water is murky then the fishing will be off. If it is clear it should be consistent no matter how much rain.
I like the theory, but then why has my best day of ice fishing been in the middle of a down poor? when the water was soo murcky that the only time i saw anything under the ice when the fish was right at the hole
Definitely something to it I believe, as the murkyness seems to be an unwelcome by-product of the rains far more than it to be an issue of flushing in additional feed, IMHO.
but the same works for the bait is that a little bait may not be able to be seen as easily due to the murkiness of the water.