By definition, the third wave is when trapped gamblers realize they went all in on a counter-trend bounce (wave 2). Meaning they are massively over-committed and now forced to sell into a down market with no buyers. Anyone who wanted to buy this disaster (aka. the Nasdaq) already bought on the way up...
Blood in the water
Deja vu of 2008 Wall Street is feasting on weaker prey by shorting over-owned hedge fund stocks...
We've already seen Valeant and Mallinckrodt cratering.
Here are a few more:
