Come to think of it, one classic example has been DLS in recent months. I bought in when the price was around mid 60's and sold out before it reached $1. For weeks on end, the sell depth was stacked and yet the price kept going up and up. Hence, my scepticism of buy:sell depths.
Incidentally, DLS merged with one of Ray Shaw's startup companies, Great Artesian.
Oh, EHR in Preopen ... gotta read it.