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Biotech / Medical : CYTO
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To: ge who wrote (7077)3/26/1998 12:34:00 PM
From: andy hong  Read Replies (2) of 8116
 
can anyone tell me what has happened for the first 5 mins after the market was open? I had placed a sell order 3600 shares by the Datek online trading at 9:22 AM before the market opened and expected it to be executed at the opening price. i clearly saw that the bid price of 2 5/16 and the ask price of 2 3/8 when the market was opening. and the price was even creeping up for a short moment before it plummeted. But my sell order was not executed until 9:34 and 42secs at 2 1/16. has anyone experienced the similar agony this morning? explanation from the Datek is that the market maker didnt pick up my sell order fast enough since the volume was so huge for the first couple of mins.
but it sill doesnt make any sense to me because my order was waiting on the line even before the sell-off began. the market maker must have taken into account previous orders before the opening to set the bid and ask price up. might it have something to do with the quality of Datek online service?
i lost 900$ due to the 4 mins delay, but the Datek said i just have to suck it up..can i take this dispute to somewhere or someone to correct the execution price? if there is anyone who traded at today's opening market, can he or she post the execution price and time?? thanks in advance..
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