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To: Sean Sheldon who wrote (53834)7/24/1998 10:45:00 AM
From: SecularBull  Respond to of 176387
 
If you were damaged by the delay, and you can confirm that the order should have been executed in a more timely manner, you can probably get the firm to make up the difference out of their own pocket. Sometimes, also, they'll "break" the trade and put your account back to where it was before the trade was made. I think much of this depends on your relationship with the firm, and whether or not the firm is a full-service or discount brokerage. You're more likely to have success with a full-service broker. If none of this helps, you can file a complaint with the SEC.

I'm not a professional, so I'm not sure what your true rights really are. I just know how I've handled similar problems in the past with success.

LoD



To: Sean Sheldon who wrote (53834)7/24/1998 11:07:00 AM
From: JPR  Read Replies (1) | Respond to of 176387
 
Sean:

Once you place a market order, that order is irrevocable and will be put through no matter what you say later, esp if it is a web trade. I appears that your order is a sell order. The price at the time of placement of order is not what you get, but the the price the actual sale was executed is the price you get. You have a better control over a limit order. A limit order is cancellable, but not a market order.

If anybody has any info or correction, please post.

JPR