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Strategies & Market Trends : Position Trading Forum
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To: Tim Luke who wrote (3508)10/17/1998 1:02:00 PM
From: Junkyardawg  Read Replies (4) of 7247
 
Tim or anyone else that lurks on this thread.
I hope that you can help me with a problem.
A VERY BIG PROBLEM.

I will be as brief as I can but this is what happened.
Last week as I was daytrading stocks I was loosing on
a particular stock and tried to get out of it at a loss.
Well I was going long and my limit order did not get filled
and it kept going down so I put another limit order in at a
bigger loss. Well it did not get filled either. So I put
another limit order in at a bigger loss and it got filled.
Which was fine.
At the end of the day I had to put my computer in the shop
for upgrading. I got it back 3 days later.
When I logged on to my "WATERHOUSE" account I noticed a very very
big problem. I was minus several and I mean several thousand
dollars. What had happened is that Waterhouse took my other two
sell orders that I had in and did a "SHORT" with those sell
orders. My account is not even set up to sell short.
The stock sense then has gone up almost $4.00 a share!!!!
This has wiped me out totally.
I feel that this is my brokers falt and not mine.
Am I in the right or the wrong?
Please someone help me!!!!!!

Can anyone help me on what I can do?
Am I screwed?
What steps can I take to get this corrected?

Thanks to everyone.
Lamar
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