Ann: Quarterly Activities Report, page-290

Whilst I am not clever enough to know how to do it, we are in a state of very low trading volume and it gets frustrating as in this sort of environment, the price very slowly drifts lower.
So it appears to me that these people follow a few different tactics.
They put a series of substantial buys several points below the top buy (Say 5.5 and 5.6, 5.7). If people sell into the buy and encroach into there lowball buys, they lap them up while the sellers fill the positions above active sells.(say 5.7, 5.8)
The accumulators then buy up the sells (5.7, 5.8) and then retreat leaving a gap and then eventually repeat exercise.
Second tactic is to late in the day and create a large gap (5.7 to 6.1 example). This shakes a few out and sucks price down to low buy level (5.7). Then repeat tactic 1.