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Non-Tech : Waterhouse Securities

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To: Dave Hanson who wrote (736)	10/27/1998 5:58:00 PM
From: Mama Bear	Read Replies (1) of 2076

"I don't even get the webbroker cancellation until many minutes after the cancel was requested. " My experience is that I see the cancel on the order status screen within the time it takes to pull up that screen. I learned a while ago that word cancel means nothing. I agree the computer should be able to tell you whether it's pending or you're out. "More to the point, they should say something like, "webbroker can't confirm this cancellation, so call your officer" rather than "order cancelled."" I agree 100%. I think you should also be able to cancel or change the price of a short sale without the order being routed through to an account rep. I think their computer should be able to tell your current account balance, so a large order won't drop through for approval on the 3rd round trip. I attempted to buy DELL at 61 1/8 yesterday, but because it was my third round trip and it was a 'large' order (c'mon, $61,125 is large?) it dropped through for approval. It was at 61 1/8 long enough so I would have gotten a fill, but it wasn't there long enough to be validated by an account rep. What is the point of computerized web trading if thy're going to route all these orders for approval anyway? Barb

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