I still want someone to explain this to me. I'm not one to be paranoid, nor am I one to instantly scream MM manipulation every time there is a drop in PPS...however, I know that it happens, probably more than I'll ever realize.
So yesterday morning, during the initial dip, I placed a limit buy order, at the ask. By time I checked, the PPS had dropped. Order was still unfilled, ABOVE the ask. PPS kept dropping. STILL unfilled. Took a long time to get filled.
Now, I could understand if I was chasing it up. But why would the PPS drop UNLESS sell volume exceeded buy volume, which would mean plenty of available shares. I finally got filled on two separate orders, but it took quite a while.
Just want someone else to tell me I'm not crazy for thinking MMs were yo-yo'ing this thing yesterday to shake free shares which they scooped up for themselves, to cover...not to turn and fill open orders on the market. F'ers...charged with creating a "liquid" market, and wouldn't fill anybody's orders, even as the PPS was dropping.
