please explain..., page-6

not necessarily.. it simply indicates the unwillingness of a big buyer/seller to put all their stock on the bid/offer at one time.. they prefer to feed the bid/offer, small bits at a time.

if you watch some of the higher up/lower down feeder orders you may notice them reducing during the day, whilst the bid/offer is constantly topped up as stock is bought and sold.. the seller/buyer thus gets his order filled at his price without moving the bid/offer too much.

it's a stealth buy/sell, quite different to the procedure when one actually wishes to move the price, as in a P&D.