Nomura’s McElligott ‘Rubbernecks’ Tuesday’s Crash, Says ‘Flow Risk’ Is Materializing

While idly watching Tuesday's burgeoning train wreck in US equities, I wondered whether an update from Nomura's Charlie McElligott was imminent. In fact (and this is true), I actually delayed a trip to the local barber (there's only one here on the island, it's a fairly long drive and he's usually busy) on the assumption that Charlie would likely produce something in relatively short order. Sure enough, McElligott was out with a quick note on Tuesday called "Rubber-necking a pile-up" that find