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Technology Stocks : Compaq
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To: uu who wrote (44119)1/19/1999 6:05:00 PM
From: rupert1  Read Replies (2) of 97611
 
Addi, Michael (and others who responded): Thanks. I have just got off the phone with Schwab in the US. They said that right now they are showing a final CPQ spread of $49 and $50 1/8th. They confirmed that all orders are outed at 4 p.m. However, they did say that orders can be "routed" to the after-hours market but not on the Web. It has to be done through a broker. I asked if I could do that - he said theoretically yes, but there were lots of complicated rules that, he, a broker would have to follow and he had never been asked to do it. He pointed out that "after hours" if an order is not filled in 3 minutes it is outed: he also said that spreads can be very wide, and it can be an expensive process for someone trading. I didn't ask too many more questions. I don't know if what he said applies to "normal" Schwab clients. I have had "institutional" coding on my account for a number of years due to the size of the blocs I trade. It gives me a special low commission and I can have my trades executed by the institutional desk ( I used to use this facility but converted to electronic trading this last year). But I don't know whether it is this status that would also allow me to trade after-hours or whether any client could do so. Since I don't want to, it doesn't matter.

Question: If any of you didn't own CPQ would you buy some at $50 tomorrow?
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