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Non-Tech : Waterhouse Securities -- Ignore unavailable to you. Want to Upgrade?

To: DRL who wrote (223)	11/24/1997 8:06:00 AM
From: John M. Hammer	Read Replies (1) \| Respond to of 2076

I am very pleased with Waterhouse, everything from speed and quality of executions to the bill payment service. But... I like to sell puts. One of the reasons I like to sell puts is that the cash I raise that way earns money-market interest until I either buy back the puts or get put to (the latter is pretty rare). However, Waterhouse has been very slow in sweeping my cash out of the "margin" portion of my account and into the "money market", the interest-earning, portion of my account. I can understand waiting until the trade settles to do it, I can even accept three extra days AFTER settlement for the sweep to occur, but I'm talking WEEKS here. I've spoken to a (different) rep at my local office every two or three days about this, and each time I've been assured that they will take care of getting the cash swept over. The last two times I called, I mentioned that everyone else had promised me that this would be taken care of, but that no action had occurred - and those reps said, in effect, "Don't worry; I'LL make sure it gets done." Well... Anyway, I love Waterhouse otherwise, but they are screwing up my expected returns and therefore my entire trading/investment system. John