** automatic stop losses = trouble **, page-21

miles, of course it affects all stop losses, manual or automatic.
No one is saying inside knowledge say of Comsec stop losses is being used, the examples I have watched have mainly been clear breaks of support levels following which within seconds you can clearly see the cascading stop losses kicking in.
The point is some of these drops intra day have been 20% or more with the price bouncing back substantially before close of business. If a trader is able to watch the market and using manual stops in most cases it is obvious what is happening and they can watch it carefully.
Maybe manual stops only calculated on end of day prices are one answer, all we're saying is that it is a serious problem now that larger investors have twigged how to use it to their advantage and the playing field has now changed.