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Non-Tech : Fight The Power! -Your Broker Just Screwed U - Now What? -- Ignore unavailable to you. Want to Upgrade?

To: Marty Rubin who wrote (12)	12/3/1998 12:30:00 PM
From: Patricia Meaney	Read Replies (1) \| Respond to of 323

Marty, Was that order for almi that you are referring to executed on 11/30? I had an stop limit order to sell at 7 on that date. It was executed - I received the confirmation from the "mail center" at etrade and I also received a verbal confirmation from a serv. rep. This was about 10:20 am on Monday. The next day I get a call from etrade at around 3 o'clock telling me the market makers made a mistake and the order never really went through. If you have been following almi you would understand how upset I was over this (it dropped to 4 the next day). Well to make a very long story short, it ends up that the original order did go through but for some weird reason another order for the same amount went through again, and this is what they were actually canceling on me. Obviously, from what you described and my experience there was something wrong between the almi market makers and etrade! What I still am trying to figure out is this. I have asked this question on a number of different threads and have spoken with a few brokers and there seems to be a discrepancy of opinions. When I was first informed that the previous days order didn't execute, even though I had a written and verbal confirmation, the rep insisted that a market maker has the right to reverse a trade order within the three day settlement date. If this is the case I find it extremely disconcerting. Does this mean that theoretically you should really wait 3 days to make sure a trade actually goes through before reinvesting?