I suspect it's more... routing around the manipulation. If you have people basically obviously doing deliberate dump&pump&dump&pump loops... that only happens a few times before -- on the aggregate -- it gets averaged out by people figuring out that's what is happening.
There's plenty of people who are like myself... moved into cash just before Stupid Day, and then have been buying red, selling green every time He has a Nocturnal Idiot Emission / Repent cycle. I made a little bit of money, which is better than losing it... and now I'm just... waiting. There's likely millions of people like this.
