PNV - Banter and General Comments, page-3850

That ratio can be easily manipulated by bogas orders, and is a bit misleading. Any holder could just put their holding up for sale in the depth to skew the ratio and give the feeling of sellers increasing, in order to shake loose hands into selling, so the tricksters can accumulate more at a lower price.

Or the flipside: Sellers could place bogas buy orders into the depth to try and create a fomo moment so there sell orders get hit at a higher price.

They remove the orders the moment the SP gets close, or just leave them in out of sight, somewhere in the depth.

Anyone with either a large holding, or with enough cash in the bank, can skew this ratio at the click of a button

Not the best indicator IMO.

Sustaing a certain SP over time, and volume are a much better indicator, but take a little bit longer to confirm.

We will see....