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Technology Stocks : Novell (NOVL) dirt cheap, good buy? -- Ignore unavailable to you. Want to Upgrade?

To: BP Ritchie who wrote (18588)	11/20/1997 11:08:00 AM
From: Don Earl	Read Replies (2) \| Respond to of 42771

Hi BP, I've had a few experiences with orders not being executed properly. I put in a complaint at sec.gov . I never heard anything back but my brokerage changed clearing houses shortly afterward and I haven't had any similar problems since. To my knowledge most brokerages will not fill orders outside the bid/ask range. There are brokerages that are set up to let you execute orders directly. One that I looked at was at castleonline.com . I sent for their paperwork but didn't like a clause in the contract that basically said that if they make a mistake, it's still not their fault. The site does suggest certain avenues of research. It's a set up that professional day traders use and more or less puts you on a level playing field with the market makers. The way I'm set up now with a single computer, level I quotes and a discount brokerage works well enough for slow moving targets but it's almost worthless when seconds can literally mean thousands of dollars. Under perfect conditions I can get orders executed within a few minutes but if you've ever sat and watched money slipping through the cracks in the floor while waiting for a slow web page to load, or while listening to music on hold, you know what I'm talking about. I plan to switch to level II quotes, add a second computer and switch to a brokerage that allows direct trading sometime within the next few months, but I need to get some other things squared away first and do the necessary research to get everything set up right. Plus switching brokerages is a hastle, it means doing margin trades in one place while liquidating assets and moving funds from the other. Regards, Don