Not exactly. Naked selling is outright fraud and manipulates the inventory with a premeditated intent to move price to gain advantage. It goes hand in hand with FTD's (failure to deliver).
This link has several parts at the bottom for those who want to know more on HFT mechanics and strategies.
http://www.scribd.com/doc/18022242/A-Buyside-Handbook
(at the bottom is links to parts 2, 3 and 4)
