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Technology Stocks : Lance B's : Its A Beautiful Thing -- Ignore unavailable to you. Want to Upgrade?

To: LANCE B who wrote (2728)	1/11/2000 11:27:00 AM
From: J. Nelson	Read Replies (1) \| Respond to of 4792

T.Y. IMO, that sucks. I wonder if there are many others who can do the same or play the spreads, so to speak. Seems like many have problems with lot's of firms over time, just depends on it's time of the year. Good Luck, Jim...

To: LANCE B who wrote (2728)	1/11/2000 11:34:00 AM
From: JD	Read Replies (1) \| Respond to of 4792

Yep, know what you mean: To: +Wang Wei (206 ) From: +JD Sunday, Jan 9 2000 12:03AM ET Reply # of 211 Yes, you are right. The dreaded "marketable order not cancellable" message has cost me many times. I bet you there was a lot a giggling over at Herzog after they suckered MyTrack into that deal!! It gives them carte blanche to hold off filling the order for as long as they want - and when the order does get filled, it is always to Herzog's advantage - at the expense of the MyTrack client!!! Even changing your preference to nite does not help very much - orders still routed to hrzg too often. As far as I can tell, MyTrack is the only OLB who has this rule. AB Watley & AMTD will allow any order to be cancelled at any time - as long as it has not been executed (and you know within minutes if it has). The last time it happened was about a week or so a ago when I was playing a MM walkdown on ANTS. Price had dropped from 21 to 10 when I started buying, but didn't get a first fill (@10) until price was down to 8. I made a killing on that walkdown / bounce - but I would have made $800 more if I could have cancelled my first buy. I was not surprised when I didn't get the fill (and I tried to cancel that darn open order twice) - why should hrzg give me a fill until they see if the price move is in their favor? They know I can't cancel the order, and on BB stocks they (in theory) do not have to fill the order. Now, if that same order comes from AMTD or EGRP they will be sure to fill it - because they (hrzg) can't afford to lose that big a client. Having to phone in a cancel totally negates any advantage of their software trading platform for those orders.

To: LANCE B who wrote (2728)	1/11/2000 8:59:00 PM
From: lightfoot	Read Replies (3) \| Respond to of 4792

MYTRAC has no control when HRZG and NITE slow down their executions at will on a fast moving stock is what Hugh told me. I told him to either get a fill or kill button that worked or I was gone. I had a marketable order that wouldn't cancel and they filled me 6 minutes later. And if I have the default on NITE why does it still go to HRZG. So he can sit on it and decide if he should fill. I have a small file going for my report to the SEC. Compare the data feeds as well, TRAC is usually lagging. And if it is a fast moving stock you had better have the dynamic logging off on the order screen and the MM screen. It will break and sometimes reinstalling the software is the only way to make it work again. I think I'm going with MBT or cybertrader for my future business. Plus it looks like I should learn to short if we continue to show this much weakness on the long side. And shorting through MYTRAC is terrible. Let us know what Broker works out for you!