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imo, it all depends on how many instos are involved. And this applies to all speccies.

A single insto can push the price around wherever it wants. But if 2 or more instos are involved, then the whole scene changes. If insto 1 decides to push it down, insto 2 just picks up stock cheap (insto 1 loses out)... and vice versa. This is where broker data is useful. Two instos is like having 2 chinese bidders at your property auction.