Maybe he's trying to encourage more sellers into thinking there's going to be a turn down so that the 'pop' is higher when he removes the fake offer. That appears to be the logic. However, someone with an offer 4 ticks away in not making a market and is wasting everyone's time. Whover he is, he can very quickly modify his price so that he's always 2-4 ticks away.
Hah, he just got filled. Check the one minute bars. There's a huge spike at 2:31 eastern. Now we'll see if he'll make any money.
I hope IB isn't his broker, he might take down my futures account! It's probably that guy from France getting past the margin rules again!
this sounds like an auto execute that is putting up bids and pulling them immidiatly to lure suckers in. cheers, Comp
It seems that some of the time he actually accepts a fill. Look at the volume on the 1 min bars. Can anyone around here take 2000 contracts? Is that you Mr. Greenspan?