He's never told to wait. He was asked if he wanted to meet with the responding officer, and he said he wanted to, so the next point was to arrange a meeting location. That was left up in the air, with a request that the responding officer call Zimmerman on Zimmerman's cellphone.
But I do agree that it appears he broke off looking for Martin. A reasonable person would assume a suspicious person that runs is aiming to elude observation, and that is well accomplished by getting farther away.
Yes that’s right, I didn’t pay much attention after he said he lost him. But what also stood out to me was when Zimmerman said Traydmark was walking towards him. Am I mistaken or did he sound a bit nervous while saying that? To me it sounded like he was about to go into a panic but maybe I putting too much into it. Either way, my impression was no way in hell was this the kind of guy who would be confronting crooks.