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To: Jenne who wrote (33853)1/9/1999 2:22:00 PM
From: tonyt  Respond to of 164684
 
>perhaps you can kindly comment if I have any recourse with Fidelity... I feel I should.

Cancellations are done on a best efforts basis. When you put in the cancel order, you were (or should have been) informed of this.

You did not say what price your fill was at, but it appears it was filled before 10am, so I don't see why you didn't immediatlty put in a sell order since doing so would have resulted in a profit.

Why do you feel that you have recourse against Fidelity?

btw, did you use a limit order on the buy?



To: Jenne who wrote (33853)1/9/1999 2:26:00 PM
From: IceShark  Respond to of 164684
 
Jenne, I'll try not to be mean here, but I assume you put through a buy at market order. How do you expect anyone to catch that order after 10 seconds, or so, and cancel it, outside of a fluke? This is ignoring the fact that the POS market was in "fast" conditions, which makes matters much worse. The fast conditions resulted in you hearing "pending" for 10 minutes. But your order was on the way and there was nothing that could be done to pull it back.

You are out of luck on doing anything about it (and I am not a big fan of brokerages), so chalk it up to education. And you may have an even bigger problem with the equity you just bought. You are lining up to suck hind tit, but the dog is getting up and wandering away.

Regards, Ice



To: Jenne who wrote (33853)1/9/1999 8:25:00 PM
From: H James Morris  Respond to of 164684
 
Glenn>> But thanks for your 'kind' words... perhaps you can kindly comment if I have any recourse with Fidelity... I feel I should.<<
When I pay someone to do what I want. I expect it to be done. Period end of discussion. I think you need to be more demanding, and less forgiving.



To: Jenne who wrote (33853)1/9/1999 10:49:00 PM
From: GST  Read Replies (2) | Respond to of 164684
 
Jenne -- Some people have been asked for 'price adjustments'. Ask for one to $158 if you think you deserve it. In fast market conditions, a market order is a blank check which says 'get me in at any price'. You would have to say you did not know that and were not informed. One problem is they may agree to 'look into it', with no immediate decision, leaving you to wonder for days what price you paid and creating doubts about your next move.