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Non-Tech : Web Street Securities (WEBS)

WEBS 19.68

-2.5%

Dec 2 4:00 PM EST

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To: SC Anderson who wrote (367)	5/15/1998 11:33:00 PM
From: inchingup	Read Replies (1) of 1339

Well..here's my opinions after about a week and a half with FF and Web St. Both are very difficult to work pennies or momentum with. FF has great customer service but I don't know if an order was executed or not until too late. Lost profits in past 2 days-+1K FF is great for getting you bottom dollar at opening if order is placed 10 minutes prior to bell. Yesterday had one filled at 1/16 under BID!! Of course I lost that later when I couldn't sell on time. I think FF is really trying to do a good job, and if you have a screw-up they will attempt to rectify. Always answer on first or second ring and haven't charged me extra for orders placed through broker instead of Internet. (I think) They now call me MR. GARY! Accidentally think I broke Reg. T today with FF so will have to see what transpires or how they looked at my buys and sells. It pretty much depends on the timing of executions, which I am never sure of.(Fed Ex'ed additional funds immediately). Web Street has continued to work out OK, but haven't tried any momentum plays with them yet. (I would think anyone who even tried this once would have enough nightmares to last a lifetime). Let's see now the bid is .18 and the ask is .21..hmm that equates to 3/8 bid (.1875) or ask of 7/32 (.21875) and I want to place my order at 1/5 (.20). Sorry, your only two choices are 3/8 or 7/32. I think everyone here gets the point. IT DOESN'T WORK. Or you could have tried to buy PKGP today at .058--NOT GONNA HAPPEN!!--EVER!! Of course I believe I only made 12 or so trades, so time will tell. Their so-called Level II serves my purposes fine, and with minimal delay. I am VERY impressed with it's speed. I did have about $4000 dollars missing one day, but when I called they checked immediately and told me where it was hiding. (It was not hiding on my screen anywhere) This only happened once. So far I have been charged only $14.95/trade but haven't traded more than 5000 shares yet. (Fear of being over charged so I break my orders up). I believe it's time that all SI members get together and start our own penny brokerage. At $7.95/trade we could probably do a few million/day on SI members alone. <gg> Anyone interested?? -- GARY

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