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Strategies & Market Trends : MDA - Market Direction Analysis

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To: Terry Whitman who wrote (47545)	4/21/2000 6:01:00 AM
From: double-plus-good	Read Replies (1) of 99985

Terry, just wanted to comment on your satement re: market orders. I have had some hellish experiences with Waterhouse trying to cover position short trades with limit orders. They typically rout the order through some form of authorization process which typically takes about 3-5 minutes. I have been caught chasing cover on the ask enough times that i put in market orders only now. I know I'm getting screwed but its better than the alternatives, I'm afraid. Of course my buy to cover at market orders have had other problems. I was short on AETH and put a cover market when the bid-ask was at 120-121. I got filled at 138, the high for the day. In these instances the problem is likely Waterhouse, and I aim to change brokers as soon as I return to the states. When I contacted them re: the poor quality of executions, they replied that if the subject was to be the cause of overly lengthy queries they would revoke the web-based access on my account. Now that's service! As far as the gold stocks I'm putting 1/2 of all short sale and put profits to work in the precious metals, dollar cost avg starting about a month ago. I'm probably early as I was with oil seervice stocks, but they have been very kind to me despite my having to wait a little while. ++

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