Lanching off modulepath directory?

[Sahoo]

As per [1], one should be able to launch VM pointing to a modulepath 
populated by javac:

In order to support interactive development, the Java launcher can run a 
modular application directly from a module-path directory. When doing so 
it performs resolution before invoking the application’s entry point, 
although the resulting configuration is not stored for future use.

But, I don't see any option in java launcher to specify modulepath. This 
is how my directory structure looks like:

./src
./src/m1
./src/m1/p1
./src/m1/p1/Foo.java
./src/m1/p2
./src/m1/p2/Bar.java
./src/m1/module-info.java
./src/m2
./src/m2/module-info.java
./modules
./modules/m1
./modules/m1/p1
./modules/m1/p1/Foo.class
./modules/m1/p2
./modules/m1/p2/Bar.class
./modules/m1/module-info.class
./modules/m2
./modules/m2/module-info.class

`java -L modules -m m1` fails with following exception:
Caused by: java.io.FileNotFoundException: modules/%jigsaw-library (No 
such file or directory)

Is this a feature yet to be implemented in java launcher?

Thanks,
Sahoo

[1] http://cr.openjdk.java.net/~mr/jigsaw/notes/jigsaw-big-picture-01