That's called a peg order RP and IMO the MM is on a fact finding mission to see just waht's up. Nothing more frustrating than when the SP performance has nothing to do with the fundamentals of a company but I guess that has become the norm on every market on the planet.
Peg orders
To behave like a market maker, it is possible to use the Peg orders:
[edit] Peg best
Like a real market maker, the stepper:
a) Uses the other side of the
spread,b) always jumps over the competitors order to be the best one, the first in the line.
The conditions are:
- price limitation, no more jumping over, unless the price moves back to its area.
- the step value.
