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I'm not arguing against algos or HFT, just spoofing. also I updated my comment to ask about level-2 quote information. If people are stupid for acting on perceived intention of other market participants, wouldn't that make the case that L2 quotes are entirely garbage and should just be removed from the exchange ?

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You're conflating two things (in my mind). L2 is very useful to people like me. If it's useful to you, you should be able to handle spoofing.

The "average investor" doesn't need L2, and doesn't care what it says, including flashing "fake" orders.

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