A single market order can strip the visible book in a blink. Picture the best offer showing 4,000 shares, and then a buyer lifts 12,000 in one print. The top…
Watch a fast tape for a few minutes and the rhythm gives itself away. Trades, quote changes, and cancellations don't arrive like a metronome. The book goes quiet, then a…
Picture a bid at 50.00 showing 40,000 shares. You add a limit buy at that same price, then watch the prints roll by. Trades go off, the tape ticks, and…
Watch a fast tape long enough and you'll see it: a stream of prints that keep lifting the offer, one after another, twenty or thirty in a row, and not…
Picture a 5,000-share market order hitting a thin small-cap at 10:47 in the morning. The last trade printed at 24.10, so you'd expect a fill somewhere near there. Instead the…