And just a few hours later, that's precisely what is happening because as Bloomberg reported moments ago, China's securities regulator convened a virtual meeting with executives of major investment banks on Wednesday night, to restore market calm and to "ease market fears about Beijing's crackdown on the private education industry."

According to Bloomberg sources, the hastily arranged call, which included attendees from several major international banks, was led by China Securities Regulatory Commission Vice Chairman Fang Xinghai. The highlight: bankers left with the message that the education sector policies were targeted and not intended to hurt companies in other industries.

In other words: buy the dip.