That's not neccessarily HFT.....market makers (MMs) will quote a bid/ask even when they don't have a position in a stock like RVX, long or short....so there are ''fake'' orders if you will. A MM will have a bid even if they don't have a client looking to buy...and an ask even though they don't have a client looking to sell.....When some retailer player comes along with shares to sell or that they're looking to buy, the deck reshuffles.....