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Non-Tech : Web Street Securities (WEBS)

WEBS 20.73

+2.7%

Dec 15 4:00 PM EST

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To: James who wrote (319)	4/25/1998 3:53:00 PM
From: Mike Winn	Read Replies (4) of 1339

James, I am currently shopping for a new broker. You said: "Case in point: If you buy a penny stock at 10 cents at close, and the next day it rises to 15 cents, YOU CAN NOT, REPEAT, CAN NOT, sell your stock with their online system. You must call in the order, in which case, they are no better than your average local discount broker." Is is true that you cannot place a limit order on the net if the price var. is more than 50%, but let say you monitor your stock and you see it has jumped more than 50% from the previous closing price, and then you place a market sell order, can you do that? I cannot believe if you cannot even place a market order if the price var. is more than 50%. How fast is the response of their live brokers? I don't mind paying the higher commission but I need fast phone pick-up and fast execution. Sometimes a slow execution can cost me thousands when the difference in commission is only 10 bucks. Last question, I just visited their web site. They ask to send a check to US Clearing Corp. Is that the same clearing house used by Discover Brokerage (Lombard)? If so then their execution is very similar to Lombard (speed-wise and price-wise).

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