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Non-Tech : Web Street Securities (WEBS)
WEBS 21.77-1.5%Feb 2 4:00 PM EST
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To: RODNEY R. BORDELON who wrote (985)4/19/1999 10:27:00 AM
From: Mike  Read Replies (2) of 1339
 
>Are you sure your computer is working right?

Sounds like you work for WebStreet.

This is the standard response I receive each time I call them about problems with their site. I received the following error message this morning when trying to retrieve an update on my positions. Do you think my system caused this error?

>As of 08:30 CDT on 19 April 1999, it appears that ADP is not
>providing Position updates in a timely fashion. Orders ARE
>being processed timely and Order Status is being updated. Check Order
>Status to confirm the state of your orders. If your Buy order shows
>FILLED in Order Status, you will still be able to Sell that position.

This is a standard "we still don't have our act together" message that I receive two or three times a week. Each time I call them with a problem they blame my system or their clearing house for any problems.

Their message states that you can still sell a position if your buy order has a 'Filled' status. However, none of your buy orders will ever show a 'Filled' status because ADP (their vendor) is not providing updates. Anytime you receive one of these errors it means your trading day is screwed. You can't rely on any information they have in their system and you must call for reliable information. Many times their brokers have told me to call back the following morning for correct information.

Mike
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