JB Oxford, Lombard, Etrade Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : JB Oxford, Lombard, Etrade

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: LEE SWIFT who wrote (284)	7/7/1997 10:41:00 PM
From: bob smith	of 396

Here is what happened to me with Lombard; I normally trade over the net, but this time I decided to coll their trading desk, because I wanted to sell 3000 shares of UIS @ 7 7/16 and orders under 1/8 are not taken over the net. I kept watching the stock and noticed it was slowly drifting down. So about 22 minutes later I decided to place a new order for 8 3/8 this time over the net thinking that it'll ovwerwrite and replace the original order. But this didn't happen.... The next day to my astonishment I realised that I had two 3000 share executions. I tought for a while and said this couldn't happen. how can they sell shares tht don't exist ? So I finally colled, got routed to thir trading superviser and he told me that I now have a SHORT MARGIN ACCOUNT and eventually have to come up with 3000 shares. As the stock stands today (8 1/8 ) that means I'm in a hole by $1875 I don't know if this was entire my fault or is Lombard trying to pull a fast one here... I hope somone out there with more trading experience can give me some advise as what to do. All comments velcome . Bob

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next