For the 3rd time since the crash in June, Chinese stocks have staged a magnificent recovery. Amid the selling bans, arrests, deaths, manipulation, massive direct government buying, and general happy-talk propoganda, Chinese stocks are now up 24% from the August lows… Of course, we are sure every one of the grandmas and farmers – fully levered – clung on through the dips.. and are now still 32% down from the June highs…