Has anone seen this - someone having orders on both sides of the depth? (you need something like pro-trader which shows live market depth and flashes when the depth changes).
I often see bids and offers appearing simultaneously. I suspect it is from the same trader, as sometimes one bid or offer wont actually change, but say 4-5 bids and offers are updated at the same time.
What trick is this?
Currently I am seeing this with GNS.
Other times I have seen it with ENE. In the close auction on ENE last week, someone would add say 12309 offers that WOULD get filled on close, and say 11405 bids away from the money that WOULD NOT get filled.
For both GNS and ENE, the chances of many people entering bids and offers within the update interval is small, but it happens frequently.
Just a trick to make people think there is greater liquidity on the stock?