Reasonable people can disagree. I for one am troubled by the claims that the FINRA daily number is just market makers "creating an efficient market," given that the number has varied from 7%-78%, and since I have had the experience of waiting 10 minutes for an order to fill -- despite having the order in at the ASK. (And this has happened more than once. Others have told me they experience the same slow fills.)

So I say, no one knows exactly what the numbers mean, but I find it interesting to watch, just in case someday a pattern makes itself clear.