** automatic stop losses = trouble **, page-19

no need for the smarties to know details of the actual stops. All they need to do is pick a low liquidity stock, maybe something that has had a bit of negative publicity, and then just dump a bit of stock and see what happens.
I would suspect a lot of these small stop loss orders would be placed by traders using charts, the smarties can read support lines as well and would aim to break the stock down below each support.