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Strategies & Market Trends : From the Trading Desk

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To: steve goldman who wrote (4390)	3/25/1999 5:33:00 PM
From: bazooka	Read Replies (2) of 4969

steve, yesterday (3-24) i put in a 1000 share mkt short order for AOl (on the dot system) when it was at 119 1/4 - (i was willing to give up a 1/2 because i knew it was going to fall). i watched for over 2 minutes and finally i got filled at 117 9/16. the stock immediately headed higher from this level (for a few minutes) and then later dropped. i saw plenty of volume on the ask (green) before this level (117 9/16) and the stock actually had rebounds at 119, 118 1/2, and 118 yet i never got my short off. upon complaining to the specialist i was told that i have NO priority at all because my order is a short sell. is this to mean that my time stamp means nothing. how could my fill have been so terrible. do i have any recourse. please look at the t/s on 3-24 for 9:42 am through 9:44 am (i dont have access to it) and give me your opinion. i really feel that the specialist knew where he was taking the market and therefore he screwed me good. i am sure yamner could have done much better on getting me a fill. thanks in advance. bazooka btw- i know this is alot to ask but i want to know if you think i have a case; and if so what should i do? they told me to leave it alone because i eventually made money on the trade; i feel i should be compensated because not only did i get a crappy fill but i was actually down 1k after i final got it off at the very bottom of the run.

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