Here is a small video capture I put together to hopefully show what we all are referring to as manipulation. I like to call this action a "floating order." I don't know what else to call it. It's almost as if the MM's are using it as an indicator of which direction to take the stock. In this example, you will see the floating bid order. I noticed this on the days where the volume picked up significantly. This order can be on the bid or ask side and YES I have seen on the ASK.
Let me know what you guys think.
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So, did you contact NASDAQ or Fidelity with this "proof" of "market manipulation"?
By the way, what is the "manipulation"?
What you are seeing is technically called a "crossed market", when a bid is higher than an ask. It's called a "locked market" when the bid equals an ask.
According to regulations, orders need to be filled at the NBBO or better. So are you seeing prints go off below the "floating bid"?
An order can be in the system showing only 200 shares but have a reserve of a million. There's nothing illegal about that. No regulation requires the order to show ALL of its size. The only requirement is for the order to make good on what's displayed and do one of either two things; fill all offers made at that price OR move down if the bid fills what it's there for.
So, explain this "manipulation" you are seeing.