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Technology Stocks : Ciena (CIEN) -- Ignore unavailable to you. Want to Upgrade?

To: Ramon Colomina who wrote (5606)	11/24/1998 9:30:00 PM
From: On the QT	Read Replies (1) \| Respond to of 12623

Hi Ramon, Right Ramon and what you say is important. Unfortunately the cost of the trade when split the way Schwab does it lately can cost a lot more than the published commission. For instance I put in an market order sell on Dell. 100 shares were sold at $68.1875, 500 were sold at 67.9375,400 at 67.9375. Normally I would have sold 500 at 68.1875 and 500 at 67.9375. Now 100 x 68.1875 =$6,818.75 Since the remaining 900 shares sold at the same price of 67.9375 x900 =$61,143.75. $6,818.75 + $61,143.75 =$67,962.50 However, under their old method of handling my open market order in the example I laid out, the initial sale would have been 500 shares at $68.1875 = $34,093.75 and then 500 shares at $67.9375 =$33,968.75. Adding $34,093.75 + $33,968.75 = $68,062.50 Now my $68,062.50 that I would normally have gotten had they executed this trade the way they use to, becomes $67,962.50 or to put it where it hurts $68,062.50 - $67,962.50 = $100.00 less than I would have received under their old execution pattern! Take my example for only 1000 shares and only one price depletion per block and then make it 2000 shares and perhaps three or four depletion's on price per block and that hidden $100.00 becomes $200.00 or more per trade! So the difference between the $29.95 and the $14.95 while correctly stated is a savings it is the hidden commission that Schwab is hitting me for that prompts me to seek another discount broker who will give me an initial market order trade of 500 shares in a normal market rather than this 100 initial trade Schwab has been dealing out. I called E-Trade their broker representative answer: I am not sure I believe we still give the initial trade at 500. While it was an encouraging response on one hand the I am not sure thing didn't exactly give me the yes or no, response I was looking for. I'll dig deeper. Thanks for your input. Sincere Regards, QT