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

To: Patricia Meaney who wrote (3902)	12/1/1998 9:00:00 PM
From: Shoot1st	Read Replies (2) \| Respond to of 4969

Patricia...I'm sure your tough..or you would not be in this arena...i just get fed up with people who act like they are infallible and others are in need of their simplistic advice wrapped up in a condescending tone. Shoot

To: Patricia Meaney who wrote (3902)	12/1/1998 9:14:00 PM
From: steve goldman	Respond to of 4969

Patricia, first off, let me state that I am going to give you the rules, and then how it should have been handled.... You are not entitled to what you are told or reported....erroneous reports occur...if I tell a client they bot 1000 abc at 10 1/4 and it was really 10 1/2,, the price they get is 10 1/2.....you are entitled to what was done... if in fact the stop order was never triggered, then you are not out of the stock, you are not executed on the order. nothing done. regardless of what they told, regardless of what you would have done...regardless of whether you spent the money or not.. in my opinion, and I suggest you speak to someone else if you are talking serious cash, is that you will not win with the NASd, if they were obligated to the trade and all they did was give you an erroneous report... Now, lets get to the more important matter.....you say it is 3 dollars lower...shouldnt that have triggered your sell stop? was it a day order that they are saying expired at the end of the day? MOST IMPORTANTLY, (since I am sure you ahve definitive answers to the first two), what was the stop price...? did it trade through the stop> OH, excuse, i think i see now...i reread your post...you had a stop limit and they are probably going to say it hit your stop and they were unable to get it off at your limit.. a few things.... 1) we could talk about the imprudence of stop limits..you want out, get out, dont get cute for teenies..you 'll get it right 5 times and on the 6th you'll get stuck like this.. 2. ) we have excellent systems for handling stops and stop limit which get excellent fills so there is no tremendous slippage between the stop and your fill...many times it is a better price, though it must be filled because it did hit your stop. Patricia... while i'd like to tell you differently, i dont think you have a claim if all they did was give an erroneous report..they are not held to what they say but WHAT THEY DID. also, if you used a stop LIMIT, take a look at times and sales, or post times and sales up here or give me all the facts, the stock, the order you eneterd, time, day, etc. and i'll take a look, but if it gapped down through your limit, well, then nothing done, stock away. and lastly, reconsider who you are doing business with.. perhaps you should have been called IMMEDIATELY to tell you about the erroneous trade..perhaps the firm should haveargued to the tilt about the trade with the market maker...but heck, its their gravy and they dont want to upset them (<G>) and lastly, maybe you should look at times/sales and quotes and see if it should have gotten done and they are covering an error. Mostly, reevaluate the firm with which you trade. Consider our firm, see our site at yamner.com. You pay a few more dollars per trade but the improvements, quality fills and industry setting service will more than pay for itself. regards, Steve@yamner.com

To: Patricia Meaney who wrote (3902)	12/1/1998 9:16:00 PM
From: steve goldman	Respond to of 4969

Full service brokers won't provide trading oriented services...you need what is termed a 'mid-tier firm', a discount oriented trading firm that offers top notch , 'full services' at discount prices. Most would never even fathom the level of service a firm like yamner provides. we are unique in the industry. few do it. we do it the best. Regards, Steve@yamner.com

To: Patricia Meaney who wrote (3902)	12/1/1998 10:36:00 PM
From: AlienTech	Respond to of 4969

So you are saying nothing happened? I had so many problems with them, And most of the time I lost big. In fact it was so surprising that none of the errors were favourable to me. When you are talking thousands and tens of thousands, even slight errors end up costing a lot. I guess the last year was a very expensive lesson I wont forget soon :>. I know steve says to exit all errors immediately no matter what, but its not that easy when you just blew 10k due to some error.