It seems these days are full of all sorts of things that aren’t supposed to happen. In positive news, no chance of your shorts riding up while you run away.
First thing this morning, as Tech careened lower for a second consecutive day, McElligott noted that Monday’s Momentum unwind was a “1st %ile event dating back to 1983″ (US Equities Momentum factor). “The selloff of Momentum Longs (-4.5%) in particular was a 0%ile move,” he marveled.