The description of ZeroHedge is funny and not entirely untrue, but if you regard them as an aggregator of opinions, (which they mostly are, even though they do offer their own opinions), it is unmatched in its breadth of coverage, despite having a rather low signal coverage.<p>WRT suffing the order book - at least as far back as 2003, in Eurex, there was a swiss trader who would do that in bond futures. There were a lot of comlpaints, and even death threats IIRC, but a Eurex investigation at the time found he did nothing wrong - their main finding was that he would occasionally get those &quot;stuffing&quot; orders executed, which means that (as far as they are concerned) they are not false or misleading in any way.<p>That&#x27;s probably the gist of it: as long as you are willing to take the hit if your bluff goes against you, there&#x27;s nothing &quot;fake&quot; about it. It&#x27;s been years since, and I know not of any (officially investigated) cases back then, or of any recent cases - but I&#x27;d be surprised if it&#x27;s not very prevalent. (Also, I&#x27;ve been out of the HFT world for a while).