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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: Maverick who wrote (21313)	3/11/1998 11:42:00 AM
From: Bruce Byall	Read Replies (1) \| Respond to of 97611

Question for All: Did anyone here execute a trade in CPQ on 3/9/98 for less than 24 9/16. I had a buy in at 24 1/2. All the stats for the day indicated it hit a low of 24.25. When I questioned Schwab I got this response...... Thank you for your e-mail. This message is to explain the occurrence of the bad report on the low for CPQ on 3/9/98. When a quote changes on the market, the specialist and/or market maker is manually entering the new bid and ask on a computer. If they hit the wrong key, that quote is reported worldwide. However, based on the fact that this was a human error, the quote is simply corrected, and any trades that were executed at that incorrect price are pulled away. Even though the quote was incorrect, based on the fact that it was actually reported, it is reflected on charts and graphs. In the case of your particular order, the correct low trade for the day was in fact 24 9/16. Based on the fact that Compaq did not correctly hit your limit price of 24 1/2, you are not due an execution on this trade. We apologize for any confusion that you may have experienced. When trading in the market, it is important to remember that based on the fact that there is human intervention, there is an opportunity for error in reporting. When those errors occur, the market makers and/or specialists are required to go back and adjust all transactions to reflect as if the error had never occurred. If you have any further questions or concerns, please do not hesitate to contact us. Thank you for using Schwab's Electronic Brokerage Services. Sincerely, Robin Schmelzle Schwab Electronic Brokerage Services