Roger Nusbaum submits: Blowing off? I don't know.
This chart of iShares FTSE/Xinhua China 25 Index (FXI) is just a one month look and it is up 20 points. Zoiks.
I have owned this one personally for a long time and admit I don't know what to make of this.
One thing I have mentioned several times before is that in a given quarter you don't necessarily know where "alpha" will come from, but if you are diversified you don't need to know ahead of time.