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China's Day Trading Hordes Unmasked
There's been no shortage of coverage both here and elsewhere of China's world-beating, margin debt-fueled, self-feeding equity mania. The inexorable rally has Shanghai trading up more than 100% over the course of the last 18 months and now, with new regulations paving the way for the southbound flow wherein mainland investors unsatisfied with the "value" proposition offered on the Shanghai exchange can search for "bargains" in Hong Kong-listed shares, the bubble has spilled over onto the Hang Seng causing shares of HKEx to go “interstellar.”
Although we know that 3.2 million stock trading accounts were opened in just the first two weeks of April alone (on top of 4 million in March), and although Bloomberg recently gave us a window into the world of the Chinese day trader, we were still left wondering: who are all of these newly minted “investors” whose ranks are now so large that their trades literally broke the software that tracks volume on the Shanghai Exchange today?
We did some digging and we now have our answer:
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Look at that, they're being so productive while gambling.
Mao would be turning over in his grave if he saw this.
old memories of old ladies "investment clubs"... remember those gathering for afternoon teas, cookies and picking stocks from the Wall Street Journal ... it seems slaughtering time ...
The only thing that matters is who's turn it is to announce QE tonight? Gotta keep this going. Another day like today and we have brand new all time highs!
Looks like the Chinese have knock off versions of those broomberg terminal color coded keyboards too.
knitting!
I new I was doing something wrong when I was trading. I wasn't knitting.
Once again, leave it to the Chinese to finally figure it out.
Ten-to-one these stock traders are smarter and more effective than the best at MS, GS, etc.
that's for sure
if i've learned one thing about chinese, is that they have learned how to be focused, self-centered, greedy capitalist exploiters
never experienced a culture full of people so entirely focused with just working hard and getting rich and improving the 'wealth face' of themselves (and family).
this doubles as a warning to anyone ever considering marrying a chinese woman haha prepare to work all day every fucking day
Those things better have dedicated "BTFD" and "BTFATH" buttons.
No they don't .... They have what is the number 20 different accounts and on margin....
Those knitting needles look dangerous when the day comes it goes the wrong way... At least the chinese government is letting them buy protection with some shorts if they wish to do so
Not much different than Chinese app manipulation farms: http://www.cultofmac.com/311171/crazy-iphone-rig-shows-chinese-workers-m...
"If green: press BUY, if red: press SELL"
LOL
How mad do you think Ms. Chen would be to learn they are just copycats of Korean/Japanese Ms.Wanatabe ?
well....before we bash the Chinese again, at least, at the end of the day, these ladies will have a new sweater. Which will put them way ahead of the traders you and I know.
Beardstown Radies.....
And Jefferson would think what, exactly, if he were to see what the US has done?
Remember...don't panic...stay calm...invest for long term term.
Good Luck....
No more bets...
ooohhh double zero comes out and no one had any money on that number
If there's any justice in the afterlife he's turning over a spit in Hell.
Ours are better looking...
http://www.shutterstock.com/s/slot-machine/search.html?page=1&inline=886...
Party like its 1999....
HOW ABOUT BUYING A FLAT-SCREEN LADIES!
They make them cheap in China.
I'm making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do... www.globe-report.com
How cute, they're using CRT monitors!
They'll be part of the angry mob when the crash comes; bring your stitching needles!
I thought it was Merrill Lynch's trading desk. Sadly, Stan O'Neil is not there urging them to buy AAA mortgage backs.
I had a monitor like that, about a hundred years ago.
Actually, I think it was in the eighties. Same difference.
CRT WTF no kidding? Where do you even find those these days?
Is the photo recent?
+1000
THIS TIMEY DIFFELENT
Lady in the middle: "Buy the fucking dip you stupid mothafucka!"
http://finance.yahoo.com/news/almost-4-years-mf-global-011501467.html
I hope ZH throws a block party at him ... oops, i mean, for him.
ZH has been shitting all over him on twitter.
We did yesterday.
Maybe there is a lamp post at the end of the block and we can all chip in for some boiled rope.
another sure sign of the top ... it probably beats a Goldman recommendation as a contrarian indicator.
Corzine seems to be one of the designated drivers taking people to their financial graves, by promising free rides.
perhaps those knitting needles can be put to good use on the former Governor
In the U.S. we like to "day trade" in our pajamas.
Or even less....
Be careful with the knitting needles. You would not want to stab your Johnson if you are short just before the 3:30 pm ramp.
I'm too busy flipping houses in my PJs making $5,000 per hour to be bothered flipping stocks in my PJs all day! It's th enew normal!!
It's no wonder we're 'exceptional!'
your missing the gratuitous link!
In the spirit of WB7s pic above, here it is:
http://flippy-housey.com/
Who even bothers to put on pajamas?
Those are some sweet ass CRT monitors ladies.
Would be funny to watch real-time video when (if?) meltdown happens to see if they:
1) Knit faster
2) stab monitor with kneedles
3) stab their own eyes with kneedles to stop the pain.
simple trading strategy for the Chinas ..they bet on all numbers with an 8 in them
pork berries
Is there some reason they're not manning a phone sex line at the same time?
Bluetooth receiver probably in right side. Can't have them using those knitting hands else the whole multitaksing thing (and associated ROI) goes to shit.
multi-slacking is hard
And this, my friends, is why I ALWAYS, ALWAYS, show up for the comments.
Is this picture from the 1990's or is China where old monitors go to die.
it's an attempt at a buzzfeed article
Looks like the PBOC is using the same trick as the Fed: QE (Grow Money Supply) + VOM.
And they are "better" how? Just because they are "Stackers"? Big whoop!
Do NOT delude yourself or kid others... China's stacking ONLY to force their way to the SDR table -- not to back their currency with PM. Hope I'm wrong, but suspect I'm not.
She is just knitting a sweater for the Etrade baby......
The funny thing is at least those Chinese mom's know HOW to multitask - knit and BTATHFD.
Amerikans.
No so much.
It's labor enough to just find a fully charged scooter at the Walmart entrance.
BS...They can eat a whole Party Pack of Doritos at the same time.
They're opening new accounts with what companies? Schwab-China? Mao-Vanguard? Fidelity Fortune Cookies?
this is the laundromat in Macau
and buying wool futures
... and they obviously have their government and the central-bank by the balls ...
Is that a picture of the GS China prop desk?
They probably work for Goldman Sachs -
Nobel prize winning economist....what area did he get the Nobel for....surely not math or medicine or physics...
OMG, Mrs. Wantanabe invades the China markets; this will end well.
www.traderzoo.mobi
Asian human wave attacks = Slaughter
That middle one is kind of hot.
Ming-huá Hill.
Space Timing: Horton Hears A Who
Power is the rate of work over time. NPV feudalism, contract codependence mimicking marriage to replicate sociopathic behavior, employs machines to separate the feudalists from the violence of poverty that they create, to feed the actuarial middle class ponzi, but it doesn’t work. You have a universe full of resistors, capacitors and inductors. Why create more?
From the perspective of labor, capital is historical overhead. From the perspective of capital, labor is present overhead. The net is marginal utility. The middle class, with artificial monetary and fiscal feedback from capital, increasingly leans toward capital over time, loading the spring. Capital, regardless of how you define it, is a legacy convention. Upon which side do you suppose Nature finds itself?
RE inflation, systematically eliminating economic mobility, is the solution for capital, and a problem for the middle class, voting itself fiscal control, but is merely a problemsolution for labor. Why would you adjust the artificial spikes of PWM when you can simply build a bridge? Why would you throw away an appliance, like a car, just because the manufacturer hid the failing resistors? What is the psychographic of Ford Explorer owners?
Feudal control is a function of psychology, peer pressure, which is entirely dependent upon the stupidity passing for public education, under the law, which rewards bankrupt behavior with arbitrary credit, at the cost of penalizing individuals who do not comply, with arbitrary debt.
What is the counterweight of a horizontal elevator? What is the counterweight for an elevator on a slope? What determines the spacetime between gravitational bodies? Why does the universe appear elastic? Looking back, how much of your ‘work’ at an empire entitlement job has benefitted your family’s future, versus the noise of empire, which hasn’t changed in thousands of years, regardless of parachute color or the rotation employed to keep it going?
Feudalism, civil marriage, is held together by fear of change, up to environmental threshold. Why can’t you adjust the counterweight to eliminate the load locally, in real time? How might you employ multidimensional regeneration to do so? What would change? What is the threat to capital? What is the effect of empire noise, the voltage drop across the psychological event horizons, on your work product, V/Hz, relative to momentum?
Government replaces parental judgment with herd judgment, which is easily swayed by sociopaths, offering something for nothing, your children as economic slaves, and voting to rotate the sociopaths, along with their crackpot theories, changes nothing, because G, and its derivatives in GDP, is the counterweight.
Creating a job by printing money, creating a training program to propagate the associated propaganda, and training people to populate it, long after the money has vanished, into real estate inflation and its derivative food inflation, is a stupid back-a-ward system, but that’s communism, and why the Chinese stock market has doubled in a year, as yet another rigged lottery, for a new reserve currency, dead on arrival. An equal right to abortion, creating and protesting war, that’s government thinking for you.
Certification is designed to pull the rug out from under you on a regular basis, at increasing extortion cost, and give the feudalists a pre-punched card; public education is geared to implement the communism, with test questions written by bureaucrats at central planning accordingly; and the critters are migrating behind Chinese communism as the future, surprise. The empire is welcome to move its headquarters back to China. We don’t need shiny metals, oil or any other empire hoarded resource to raise the load.
Have some faith. Everyone is not quite as stupid as Internet TV would have you presume. Don’t fight the system; jump from the counterweight to an elevator, of your choice. With love, you don’t need a script. Without love, no script will save you. The false prophet will tell you what he/she thinks you want to hear, in return for control, expecting confirmation. Someone who loves you will tell you what you don’t want to hear, when no one else will.
The counterweight attracts divide and conquer politicians from birth, and some parents choose to be unpopular, in a process of discovery, in which the politicians are represented by the politicians they deserve. Who do you suppose that elevator is lifting? “A person is a person, no matter how small,” and an automaton is an automaton.
Ben Franklin and Albert Einstein were a few thousand years late to the party, and their peers still didn’t understand what they stole from the patent office. You will not find me working in the basement at 3am, and having a double in the coffee shop at 10am, by accident. If you listen, the majority opens it mouth and assumptions fall to the ground.
Funny, Dr Seuss had a train in his yard, what you see when you look.
Pretty much how I remember the quant room at my former employer
Free Thibet
At least they have a new shirt left, after they lost everything.
I recall trecking in the Nepalese Himalaya sometime around 1985. The border to Tibet at Mustang was shut and people fleeing spoke of Red Army forces killing Tibetans indiscriminately. Since then the iron fist of China has been merciless in obliterating opposition to its fascist dialogue of pseudo captalilism. The Western scum, however, never cease to lick the arse of Oriental profit.
"Knitting gives women something to think about while they're talking." Ambrose Bierce.
Nothing wrong with crochet
I'd give you 10^10 more up votes on that but alas, I am limited to a mere one. Bravo
The Maddness of Crowds...
are bucket shops far behind...
Its 1928 in China....
"Reminiscences of a Stock Operator" Jesse Livermore
If they really want this market to explode they should start offering free drinks, progressive comp cards, and discount coupons to the dinner buffet.
Given they are Chinese, trading will be based on magic numbers, astrology, fortune teller stories and whatever the neighbors said. Seriously. That's why millions can become instantly involved. No knowledge required beyond operating some simple app. This is Asia.
You cannot understand the attitudes and behaviors of individual Chinese regarding "investing" and "financial markets" unless you have lived and worked among them and experienced their fascination and addiction to the quest for "luck", or "good fortune", what we in the west have known as "gambling".