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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: AlienTech who wrote (4994)	12/28/1998 1:26:00 AM
From: Alan Smithee	Respond to of 43080

AT: Schwab huh? They've had me into a short position in a 401K before. I had a GTC limit order in to sell NM a while back. Canceled that, put in a market order at a lower price. Seems that The GTC was NOT canceled. So I sold my position in NM and a few days later, the stock ticked back up and hit the price I'd had in on the GTC. Schwab executed that trade as well. I got a panicked call from Customer Service telling me I was short NM and that I had to buy shares to cover. Lucky for me I covered at a profit. If I'd stalled a couple days more, I would've made out even better. Be very, very careful when placing trades with Schwab on-line.