AARRGGHH! Been there!! "Pending" is becoming a dirty word! I know exactly what you mean. Not today, but last week I got caught with the "pending" black hole. And then, by the time they finally turned "Open", the b/a had moved off my sell price. So, I made the next big mistake - did the online "Cancel". Of course we know what that means - "Awaiting Confirmation" for at least an hour, sometimes all day. This just wasn't going to work, so I called their "talk" line - waited 20 min just to talk to an "investment advisor" - then he had to spend another 5 min. to get the cancel confirmed. They will not let you enter another sell order if it exceeds the number of shares of your long position if there is an order already placed, even if it is "awaiting cancel confirmation" THIS SUCKS!
Datek has extremely fast order cancelations. That is a big plus. If your buy or sell limit order doesn't get filled, it's easy and quick to cancel and enter a revised order. Especially using the "Express Server".
Excuse me for venting, but I've had pent up anger at DLJ for several days over that. The above story has happened on more than one occasion. I'm threw with them as soon as I can close my positions and get my money back out of the account. (BTW, DLJ was the first online broker I started with. When I signed up I got the 60 days free DLJ research and recommendations. I was new to trading/investing. I lost A lot of money following their recommendations. Now I understand. That is how brokers/analysts work to relieve you of your hard earned money - upgrades come at tops, downgrades at bottoms - stupid isn't it? But I did get an education - had to get something for my losses.)
Best Regards,
Kevin |
