We'll never have the data, but ime it is likely much of the selldown on MPEL and the rest of the group was pm doing either box or paired hedging against the broad market swoon, intensified for this sector by the idiotic analysts' perspectives (the latter about to be trampled as the companies report and share their updates for the current Q). China's finance ministry update before the U.S. open was helpful in this regard, and those hedges are all coming off quickly now, starting yesterday, in orchestrated fashion, just ahead of WYNN and the group reporting next week.
Additionally, objective data available for the work/consulting arrangements with data providers reveals that the OTA and airline businesses are going along ahead of expectations... all good for those groups (we're very long gaming, airlines, hotels and the OTA's down here) and this sector.
As for the "nitwits", by that I think you mean the dip S unhedged shorts and put buyers here who likely got clobbered out on the first jump back to $40 and are getting mashed again after shorting down below the 40W ema... Yellen's comments today and Draghi's this week also make it apparent no central banker surprises are in the mix anytime soon.
As I wrote earlier this week, all factors considered, the stock is relatively cheaper now than it was last July at $20 (after pulling back 20% in a couple weeks time on weak sauce suppositions about China's economy, worries about the new regime and the impact those were sure to have on Macau's GGR -- all just ahead of GGR surging to record highs for the 2H... Sound familiar? LOL