JorgeStolfi
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June 12, 2014, 06:30:49 PM

One more clueless guess won't hurt, right?

My explanation for the mini-rally of the last few weeks is that some Chinese traders got insider info of some impending positive development X, and all the other traders simply went along with them, without understanding why.  Now some of those traders may have got tired of waiting for X, or began to doubt the rumors, or got scared by that Caixin article.

So, what will happen next depends on whether X will actually happen, and whether it is indeed a positive thing.