Friday's Price Action Shows There Is No Margin Of Safety

Not Just The Momentum Stocks Got Hammered

As ZeroHedge noted, Friday's market action was "an epic flush":

Everything – like literally everything – and certainly anything with a high beta or even a trace of momentum, imploded with a sheer violence that made Aug 5 look like amateur hour.AndunlikeAug 5, the puke was only at the beginning with stocks spiking from the first moment of trading, this time it was the other way around, with stocks pushing higher to start the day before falling apart, and ending a catastrophic...