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Strategies & Market Trends : From the Trading Desk -- Ignore unavailable to you. Want to Upgrade?

To: TFF who wrote (3322)	6/26/1998 2:59:00 PM
From: spotter	Read Replies (1) \| Respond to of 4969

When I asked Schwab if I could do that, they said that I could put in both orders, but I would be responsible for cancelling one if the other filled. If the market fluctuated enough, and I wasn't able to cancel in time, I would be responsible for delivering the stock to fill both orders.

To: TFF who wrote (3322)	6/26/1998 9:10:00 PM
From: steve goldman	Read Replies (3) \| Respond to of 4969

We do it. It requires that the trader works the order. We place the stop side on the books so you are protected at your stop and the limit order would be entered when we get within 1/4, 3/8 points of the limit, still leaving room for our traders to get improvement. Nonetheless, you can have to be careful of the liablity of having two orders in same stock on the books. I dont think solely electronic-based system can provide it...too much liability for a $19 buck commission. Regards, Steve@yamner.com