ETRADE Sucks! Message Board

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Pastimes : ETRADE Sucks!

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To: R. Bond who wrote (2165)	4/16/1999 2:42:00 AM
From: Michael B Williams	Read Replies (3) of 3262

Discover and many other online brokerages were down about 45 to 50 minutes at the market open on Wednesday. A funny thing happened to my trading on Wednesday and I leave it to others to ponder what the implications might mean. I have two accounts; one with ETRADE,"someday we'll all trade this way"; God I hope not, and an account with Discover. At the git go 9:30 I had my screen on ETRADE loaded and ready to sell the DELL I had bought on Tues and was about a point ahead. Got the trade off on ETRADE at 9:32 okay and went to Discover screen and got ready to trade the DELL I had there ...... no go froze solid, not responding yet a few minutes before the market opened I had logged on okay. Went back to ETRADE it was locked up tight so I checked other non brokerage sites and had no problem, so it wasn't my internet provider or my computer. Called a friend who was trading on Datek and Brown& Co.; he was pissed because his servers were not responding either. Signed on Yahoo and noticed the Dow now going down and we watched that for about 35 more minutes then wonders of wonders all the servers started responding again after the 45 to 50 minute stoppage. Got my Discover screen up and now found my DELL was about 3/4 below what I had bought it and now of course I could trade it. I guess I should feel lucky I made money on the ETRADE to wipe out te loss on Discover but the timing of all these outages were just a bit too close but for me to believe it had been planned. Later in the day talked with another person that uses Fidelity and he couldn't get on in the morning either. Does anyone here think maybe it's time we start writing the SEC and maybe the House and Senate banking committee heads to start to look into these system wide outages that affect all the on line brokers at the same time? To put this in perspective I have another friend who knows a broker at a small trading house and the guys with direct lines didn't have any problem that morning. We seem to be going to a two tier system where the greedies at the center with their huge advantages aren't satisfied with their ability to see most of our cards but now want to shut the small players out by shutting their access off and trading to their liking then letting us come back in when they've shuffled the card to their liking. I beginning to feel like Mulder on the X files.

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