Lets say the bid is 49.98 and the ask is 50.01, the midpoint is 50. Is it possible to intentionally place limit orders at 49.99, have them filled, then place limit order at 49.98, have them filled, and continue placing lower and lower limit orders?
This is contrastingly different than short selling, where you are creating selling pressure, and hitting bids along the way.
This is just placing limits, getting filled by other people willing to sell at that price and repeatedly lowering your bid (and therefore the last quotations of the stock)
I'm not concerned about what is printed on the ask side of the book, because I know of PLENTY of computer algorithms that will only place an order once they see a price get filled on the tape.