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Strategies & Market Trends : Bill Wexler's Profits of DOOM -- Ignore unavailable to you. Want to Upgrade?

To: Peter V who wrote (2791)	9/16/1998 6:24:00 PM
From: Dr. Seuss	Read Replies (3) \| Respond to of 4634

Peter, Can't say about that, but I have had times when I freed up a ton of margin by selling longs or covering shorts and had subsequent trades cancelled due to insufficient funds. When I call E*Trade, they tell me that my recent orders hadn't been factored into my margin. They have offered to put in the trade, but only at current prices. For example, I tried to short ABTE the other day at 6 1/8, watched it tick up....my order sat there for quite a while and then came back insuff. funds (there was plenty of funds). I called and by the time I got a broker, the sucker was trading at 5 1/8. The broker said all they could do was enter the order at 5 1/8. I asked for a $1000 credit and he said no. Today, I had a margin call from yesterday due to a few overlapping trades.....I got a call from Etrade saying I had to take care of it by Monday. I pointed out that as soon as my trades clear, I would be fine. The person agreed and apologized for bothering me. 45 minutes later, some schmuck covered 400 shares of my ALTIF. This time the broker said something is wrong and they would call me back tomorrow. I am getting pissed at these on-line brokers. Sorry for the rant. I'm just pissed. Dr. Seuss

To: Peter V who wrote (2791)	9/16/1998 6:28:00 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 4634

It reads then: "order timed out." I experienced this sometimes even when selling a insignificant portion of the original size. One time I sold 100(!) of a stock. The rest was timed out. See the Datek thread esp. msg: My question in italics and an answer from Barb: Message 5626462 and Message 5626430 Indeed any reason is BS, and I am seriously looking for another broker. Even short Market orders should wait until the next uptick comes in. This works on NYSE, for example (bad enough if there is no uptick, you never get in.) Christian

To: Peter V who wrote (2791)	9/17/1998 2:23:00 PM
From: BDR	Read Replies (4) \| Respond to of 4634

<<To the thread: Datek told me something today that I think is total BS. They said that a Nasdaq order to short can be "killed", in other words canceled, on a downtick. >> Today I have been trying to place first a limit short order at the bid and then a market short order with Datek but because the tick went from up to down as I was placing the order I get the following message: Sorry. We cannot accept your order. Cannot short stock on a DownTick at bid price The order is killed and has to be reentered repeatedly until I catch an uptick. (I guess, because it hasn't happened yet. Bid and Ask are static, there just hasn't been any stock traded for a while). In the past the order stood until it was filled or expired at the end of the day if I left it open that long. No longer can one place an order and, if it is unfilled, leave it and hope the price moves back your way. This makes shorting a real hassle. Perhaps that's the purpose?