Position Trading in Canada Message Board

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Gold/Mining/Energy : Position Trading in Canada

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To: JAS who wrote (141)	12/13/1998 12:50:00 PM
From: Carole Olkowski	Read Replies (3) of 2259

I must tell you latest tale of ridiculous bahaviour by a Canadian Discount Broker...CIBC Investors Edge. First some history...I have purchased some of most bottom of the barrel stocks listed on the Nasdaq over the last two years, and I also own some Blue Chip Bank Stock... Friday at market open I attempted to place an order via online trading to purchase 5000 shares of BNC at .44. after about 15 minutes they rejected my order for no apparent reason. I called the broker and he could not tell me why it was rejected, but proceeded to take the order verbally (by then my bid was raised to .47). I did fill 3000 shares at .47 during the day... When I got home that evening I had a message on my voice mail...They rejected my order because it did not fit with my investment objectives. PARDON, WHAT, YOU DID WHAT? Can they do this? seriously... Last time I checked they were a discount brokerage. What right do they have to question my trades? On a side note...i never would have filled at .44 - but thats really not the point. Regards, Carole

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