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Non-Tech : Web Street Securities (WEBS)
WEBS 19.37-1.0%Dec 9 4:00 PM EST
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To: Jon who wrote (401)6/2/1998 11:07:00 PM
From: SC Anderson   of 1339
 
A post to Jon/Web Street Securities

<These penny trading situations do not allow us to provide our 6-10 second executions on most marketable orders and pop-up confirmations that we can on NASDAQ, listed and options exchanges.>
No problem with market orders. The problem is limit orders. I'll say it again, limit orders. Your MM doesn't represent the BB limit orders. Lately, the only way to buy or sell a BB with you is at market, and I've finally figured out how much that is costing me. I'd rather pay twice your commissions to make a decent trade. Also, with Level II I don't care about 6-10 sec confirmations, I can see what's happening (or not happening actually).

<If you want to trade penny stocks, then it is highly recommended that you call our live brokers at 1-800-web-trade. Doing so will limit any of the above situations that you may have experienced.>
Not true - that doesn't do it. Been there, done that. Where do your brokers send my orders? The problem is that NASH, WEIS does not represent the orders. And you can pass this on to them, I'm waiting to document them misrepresenting one of my orders again. Then it's off to NASD.

The bottom line is you guys haven't been good for BBs. So be it. I've been hanging on in hopes the new system would offer a more favorable situation in that regard. Sounds like that will not be the case. Your people are great, your Level II is unique and worth every penny - even worth keeping a portion of my portfolio with you - but all the BB's will be transferred out. I'll say this, you were better than SureTrade.

Steve
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