$PIPPIN Many large sell orders like 5230 and 5240 are actually whale orders. In certain positions, whales place very large iceberg orders that are usually invisible. When whales see many people eating their iceberg orders at high levels, they quickly create a fake rally to trigger market sentiment and force early short positions to explode. Then they reverse and dump, smashing the market and hitting the long positions. The distribution is complete—this is a typical process.