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Something is missing here. Schwab normally has very fast fills, in my experience. Give us some more details. Did you place the trade before the open? If so, was it on a listed stock(3 letters or less in the symbol, trades on the floor of an exchange). If it was a listed stock, if there is news out on the stock pre-open, there is usually a delay in the open of a stock. About a week ago it took CPQ about 15 minutes to open. You mentioned Mayer, though, so I am assuming it is a Nasdaq stock. Was this Nasdaq stock in a "fast market"? If so, order fills will be somewhat delayed(although it shouldn't be 20 minutes). At Schwab, they can check on this info if you ask them. Call them back and ask if the stock was in a fast market or not, and what the "ask" quote was when you sent the order. This info will tell you whether you actually did get the shaft. One other thing that can delay your order is if you are buying or selling over a certain number of shares. If it is over 1,000 shares, executions will probably be a little slower. Also, it wasn't a bulletin board penny stock, was it. Don't get me started again on discussing those. Look at my other posts if you want info on BB's. |
