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To: Alan Hume who wrote (9048)	10/31/1998 8:28:00 AM
From: wily	Respond to of 93625

Get an explanation from the broker, then send that and your complaint to the NASD. Should be pretty cut and dried. NASD has extremely detailed information of the trading on each stock. Schwab will probably adjust for you if they know you're going to complain, though. They don't like having unfavorable judgments on their record.

To: Alan Hume who wrote (9048)	10/31/1998 8:48:00 AM
From: wily	Read Replies (1) \| Respond to of 93625

Alan, I just checked T/S for yesterday and there wasn't much volume on the bid once it went below 65 1/2, and it looks like there was a string of stops executed at 65. From there the market dropped real fast. I'll send you bitmaps of T/S during that period if you like. They're pretty big files --1MB each--so, let me know.

To: Alan Hume who wrote (9048)	10/31/1998 9:14:00 AM
From: Chuck Mowery	Read Replies (2) \| Respond to of 93625

Unless you had a stop-limit order, I don't think you'll have a leg to stand on. That's the danger of stops placed too close to trading price. Chuck

To: Alan Hume who wrote (9048)	10/31/1998 10:51:00 AM
From: Gary Wisdom	Read Replies (1) \| Respond to of 93625

Alan, there are many rules to live by when you trade stocks #1 is NEVER put in a stop at a round number. You'll get hosed every time. If you were concerned about $65, put in a stop at $64 11/16. The market makers love to run through stops. But they don't want to give the stock away. So, if there were a bunch of stop loss orders in the books at $65, they would run it to maybe $64 13/16 but no lower. Of course, in yesterday's case, they took out the $64 stops too. #2 is never bitch about a stop loss. If you're going to put one in in the first place, be happy that you're out. Schwab did the right thing on your order. A stop loss is no guarantee that you'll get that price. A stop order is a market order only once it hits that price. Finally, IMHO, Schwab sucks. I just moved my account a few weeks ago and am thrilled. Good luck.

To: Alan Hume who wrote (9048)	10/31/1998 11:28:00 AM
From: jopawa	Read Replies (2) \| Respond to of 93625

Alan, Be very careful about following wily's advice about filing a complaint with the NASD. That should ONLY be done if you lost a ton of money, and you KNOW you are right. 1) Most rules are made to the benefit of the industry, and having been hosed several times, they will break out the rule book over the phone and tell you why you are wrong. I once bought a listed stock and they halted trading 2 min after and two points higher than where I had a CONFIRMED execution. The NYSE went back and cancelled my trade and about 2 dozen others and my broker read me the rule about "erroneous reports". Subsequently reopened 2 more pts. higher without me. I talked to a VP at the brokerage, and once again NYSE rules gave my "erroneous" trade back to the specialist to bank the profit(my interpratation!). So much for a $4 grand trade, and with no recourse available, I was lucky to get 5 free trades out of them! 2) More importantly, if you file a complaint with the NASD, SEC etc., you will never be able to open another trading account elsewhere. Most brokerages will politely refuse your trading biz because they don't want someone who causes them that kind of grief. The complaint records are public, and they check them. I learned that from a friend who works for a LARGE discount broker in Boston! Good Luck John P.S. Incidentally, for all the popular media bashing of NAZ ripoffs, I find the NYSE listed stocks to be the real cheats. Much harder to trade and much more likely to hose traders. When was the last time you saw a NAZ stock halted midday? They open them promptly, and make a market for them all day. NYSE opens stocks routinely late, halting during the day for imbalances, news pending etc. At least NAZ MM's keep them open and don't pull the kind of stunt that I spoke about.