finding the floor...are we there yet?, page-106

I really don't see how trades of small amounts of shares matters. Mathematically the price should be determined linearly by supply and demand volume. If you think otherwise, I would love to know how.

There are various ways to fool other market participants, most commonly by a seller putting on large bids less than the prevailing market price in order to get a higher selling price. I think this is what happened today. But the risk for the seller is that another seller hits the bid. It is a tactic and it may or may not work. If it does work, then it actually lessens the price impact of selling. Isn't that a good thing?

I think because the market is the summation of a number of valid buying and selling strategies, often executed via high speed algorithms, there is a tendency to attribute mysterious powers to these. In reality everyone is playing by the same rules.