Fight The Power! -Your Broker Just Screwed U - Now What? Message Board

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Non-Tech : Fight The Power! -Your Broker Just Screwed U - Now What?

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To: TFF who wrote (66)	12/6/1998 11:55:00 AM
From: CanynGirl	Read Replies (5) of 323

How my broker screwed me<G>: Just something else to watch out for with online brokers who route the orders. On Oct. 29th at about 7:10am, BCST was sitting at 48 x 48 3/4. I placed a limit order to buy 1k BCST at 7:10am for 48 1/8 with Etrade. A few seconds later NITE showed up on the bid at 1/8 with my order. Someone trumps it with a 1/4 bid. Sells start flowing. 1/4 gets taken out. NITE drops his bid to 48. No prints at 1/8. A few prints at 48. The sells stop and buys start taking out the offer. NITE ups his bid to 1/8, someone trumps it to 1/4. The stock takes off and rises 4 points by 7:14. I'm not filled. Had NITE not try to make an extra 1/8 on my order, I would've been filled.

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