$3.50 is a magic number for XIN. It has flirted with this number for more than a month. I feel as long as the US market does not crash XIN will be able to pass $3.50 and go all the way above $4. The China mainland stock market can provide a really good support on XIN.
The Shenzhen and Shanghai stock exchanges cut the transaction fee by 25% to encourage stock investing. Politically. this is a good signal that the government feels the floor of current market. Last time they did it was 2009. The mainland market soared. So did XIN.
I'm not sure if the link to this chart will work; if it doesn't, call up a 5 yr chart of XIN and compare it to the 5 yr charts of Shanghai (Yahoo ticker: 000001.SS) and HK (Yahoo ticker: HSI) and examine 2009. But hopefully, this will save you the legwork: http://finance.yahoo.com/echarts?s=XIN+Interactive#symbol=xin;range=5y;compare=^hsi+000001.ss;indicator=volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;
hmmm, you start to use a fact agreed by you less than a monthly ago to bash XIN now. You said 000002, China Vanke, the biggest developer in China, is highly correlated to XIN. Now, you becomes silly enough to use the general A share index to relate to XIN. Anyhow, I don't want to waste my time. Most people here know what you stands for - bashing XIN. I don't want to say anything bad about you at this time. Simply, you heart is very painful to see XIN goes up from $3.28 to $3.59. Your bashing turns out to be useless. I am gentle enough not to attack somebody who is already hurt.