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

To: JC Reddy who wrote (86)	12/12/1998 1:09:00 PM
From: THOMAS GOODRICH	Read Replies (1) \| Respond to of 323

I had a similar situation with Schwab, however, the cancelled order filed 2 days after the confirmation of cancellation and Schwab reluctantly assumed the loss after considerable stonewalling. The real bugaboo on their part was the fact they had filed the order waiving the commission knowing the client had cancelled, but, possibly may still desire having it filled. They blamed all of this on a rookie employee! In your particular situation, it appears their systems were overloaded and did not report a confirmation back to you in time to avoid your duplicate order entry. This happens to lots of people everyday who day trade and probably the best you could hope for is a return of the commissions you paid. Schwab makes it perfectly clear that as a creditor in need of protecting itself they reserve the right to amend or curtail trading practices on any volatile security. You will need to contact the Chairman's Division hotline via the toll-free number: 1-800-435-4000. TG