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Non-Tech : Web Street Securities (WEBS)

WEBS 22.16

+5.5%

Jan 30 4:00 PM EST

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To: B.D.Bauden who wrote (918)	1/21/1999 11:26:00 AM
From: B.D.Bauden	Read Replies (2) of 1339

Further adventures in Web Street land. This morning I placed a limit buy order at 6 3/8 (the ask price) for ALMI. Naturally, WS was too slow to catch it. The stock went up to 5/8 and I cancelled the order in the trading pit. I then called a broker and told him to cancel the order. The Order Status screen showed "cancel pending". After 15 minutes I called the broker again and told him the cancel was still pending and I wanted it closed. The stock was hanging around the 1/2 area, but I didn't want to catch it if it started falling. He told me he would send the message up to US Clearing again and I should have my cancel in 5 minutes. Guess what.... the stock started to drop and after 5 minutes I didn't receive notice of the cancel, I received notice of the fill! So, in the last two days, I've had a 7 minute wait on a market order for a sell which cost me 3/8. Followed by a cancel request that was never honored even after waiting 20 minutes. I thought this company was getting better. They have taken a dramatic turn for the worse. My search for a new broker has begun. Bruce

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