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Non-Tech : Web Street Securities (WEBS) -- Ignore unavailable to you. Want to Upgrade?

To: Mama Bear who wrote (210)	2/3/1998 10:03:00 AM
From: Esteban	Read Replies (2) \| Respond to of 1339

Barbara, The experience you narrated really doesn't bother me much, unless you find a consistent policy to do this. I notice that Web St. adjusted the price, and I'll bet right away without quibbling. Entering orders to sell below the bid is something I've only very rarely done because it allows MMs to screw you at times which your broker has no control over. With time and sales it's very easy to see what happened and with Web St. at least, an adjustment is a quick phone call away. However what does bother me is your assessment of the execution speed. How did you arrive at the conclusion that the speed is not up to Waterhouse standards? Quantifying execution speed with Web St. has been difficult for me because I usually trade between the spread, kind of cherry picking with a take it or leave it philosophy. On the few occasions I have felt I needed a quick exit or entry, I've gotten the fills by entering a limit order at the bid or ask. Since Web St doesn't print the execution in seconds I haven't been able to tell how long the fill took, and I haven't traded at market enough to get a feel for this. Less than 3 second executions are impressive. Have you tried entering in the spread orders at Waterhouse to judge speed of representation? Esteban