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Strategies & Market Trends : Roger's 1997 Short Picks
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To: Timoteo who wrote (6248)10/29/1997 9:05:00 AM
From: sheldon spivak  Read Replies (2) of 9285
 
poor execution by BROWN & CO.
Here is my tale of woe. At 10:06 Monday, I decided to cover my 8000 dell short.
The stock was at 76 7/8 - 77 3/8. I placed an order to buy 5000 limit 77 3/8. The quotes then went to 76 13/16 - 76 7/8 and I placed a market order to cover the remaining 3000 shares.
Much later I got confirmations of
100 @ 77 1/16
100 @ 77 1/16
78 @ 81 15/32
2922 @ 79 15/16
I complained and they then said I also got
800 @ 77 1/16
and they were working the rest, 4000 @ 77 3/8 limit. Naturally dell was trading at this point in the mid 80's so filling the 4000 @ 77 3/8 was hopeless. I can complain more but I think it's hopeless and I'm not sure what I should do to prevent this from happenning again.
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