I made no value judgment on the MM's. They are trying to make a living based on volume and the spread, its as simple as that.
If the volume isn't there, they are going to take whatever action they can get...even if it means selling shares at the reported bid.
But of course, if that happens, they would need to buy the shares back at lower prices, hence a drop in bid.
That is, if they weren't naked shorting.....in which case they would just drop the bid without bothering to cover.
Surely, someone with street smarts such as yourself could understand this phenomena.
