Another day in the NUT house:
tried buying LCOS on its dip, entered market order to buy when price was 92, hour later got fill report at 108 !!!. Spent 40 minutes listening to cheap classical music on hold at discover, did get the fill changed to 98 eventually. later went to sell it, tried to enter order at 115, website down, phone line busy busy busy, finally got broker, entered sell limit at 109 1/2, and got filled at 111 !!!!
There is a serious problem brewing in internet trading land. We have gotten used to lightening fast executions and cheap commissions. But several times now the system has broken down. today was one of those times. fills were nowhere near posted prices, websites were down, and phone lines were like trying to call into a sorority house with all the hot babes and only one phone line. There will come a time, when people will get seriously hurt because they cannot get out - can't enter an order. it will be UGLY. reminds me of program insurance in the 80's.
YHOO - after hours, trading at 438 up from 400 close. the big three of the internet MSFT, AOL, YHOO - do you have them in your portfolio as keepers? larry |
