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Non-Tech : E-Trade "Class Action Lawsuit"
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To: Skeeter Bug who wrote (66)7/16/1996 3:54:00 PM
From: P.T. Burnem   of 128
 
Jeffrey,

As you well know, a stop order becomes a market order once the stop price is touched.

Although E*Trade claims that market orders get automatically routed to the exchanges, I have had several m.o.'s executed more than a bid/ask spread off the last (real-time) sale price IN A SLOW MOVING MARKET.

In my experience, neither stop nor market orders are safe with E*Trade because of the slippage.

PTB
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