[Nick1984]

On stocks I've seen lots of traders put in "dummy" orders which can send a lot of people into a spin in order to help price move even a few cents in their favour. I stopped looking at the Level 2 because of that. On trading halts some one stock I was following worth only 65cents had some bids being placed up over $1.20 before quickly being withdrawn before the commencement of trading again. Lo and behold what happened a lot of noobies rushed in and bought up at these high prices expecting they were onto a miracle stock then price tanked all the way down to 70c all in the space of a couple of hours.

I don't trust tape on stocks at all!