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Non-Tech : Invest / LTD -- Ignore unavailable to you. Want to Upgrade?

To: NucTrader who wrote (11733)	1/27/2000 4:11:00 AM
From: Thean	Read Replies (1) \| Respond to of 14427

Nuc, delay in reporting confirmation happens ALL the time at Waterhouse. It happened at least 3 times in the last month to me. I called in each time and they apologized but couldn't do anything. The truth each time is that the orders actually got executed On time (if it's a market order) and filled if it's a limit order. It's just that they can't verify the execution. Typically 20-30 min waits before confirmation showed up on the screen. It's a problem in a fast moving market. I do interday flips but not intraday flips so it does not affect me much. But in time of a market crash, the only protection one has is to set stop order or low limit order. I believe it's a systemic problem they currently have with NYSE floor or MM's communication system. It's a big problem for them. Therefore it's a good idea to jot down the order number and time of order entry in case of dispute. In my case, the fill I got was better than expected according to the bid-ask during time of placing order so I didn't call them up to "chat". But it can be trying. There are pluses and minuses but the consistent ability of Waterhouse to provide execution within the spread or better is the single most attractive reason why I stuck with them despite all the problems known. More often than not, they split up my order for two prices, one at the bid/ask and another within the spread. This shows their clearing agents do shop for the best possible price. I believe NITE is their #1 agent. The second reason is their reps are just so nice and they are quite honest and flexible. My account is with the NY office and you never ever expected so much phone courtesy from NY'ers. Surprise, surprise, I didn't see S&P future down 10 this morning. So it's true that DELL is no longer the mover and shaker of the Nascrap.