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

To: steve goldman who wrote (4142)	2/4/1999 11:47:00 AM
From: steve goldman	Respond to of 4969

ON the street, your word is your bond. You give your word and you back down from it, you're nothing. I cant speak to how anyone else does business, but I can tell you that we've been around 22 years and have never had a filing or complaint against us. Regards, Steve@yamner.com

To: steve goldman who wrote (4142)	2/4/1999 7:15:00 PM
From: AlienTech	Respond to of 4969

>>I had never heard about the 48 hour deal, but anything at all bridges the moral issue, and anything over the next morning (by the time the firm has a chance to reconcile the trades and realize that you are long and extra k) is just flat out negligent.<< Actually I have had this happen twice with ETurd. Then Once when my options were excercised by the exchange (? since it was 5 points in the money) but ETurd rep told me they had expired worthless since I did not call and excercise it myself. Was worth 50K and it did cause my tongue to hang out for a while in the wind. >>Now, that said, the second order, you might have some ground to stand on. I couldnt tell if you did this, but if you did a cancel and replace, ie. "buy 1000 abcd 11 cancels 10", then the second order is only good when and if the first is cancelled. You should never end up with 2k. This is different than if you straight cancelled the first, got an out (which you now know doesnt mean anything at certain firms), and placed a brand new order. << Ah another ETurd mistake, I had place an order to buy some 50 puts on the same stock I was playing above, Changed the order (did not cancel and re enter but did a change order) ended up with double the number of puts, of course I did not get confirmation so I sold what I thought they said I bought. Come monday I log on and the stocks missing from my account. The stock closed like 1/4 (as in 34 3/4) in the money. I call and they go huh what stock.. Sorry no stock in your account. I am much more mellow these days and dont let these things bother me anymore as my posts on the ETurd forum shows.

To: steve goldman who wrote (4142)	2/4/1999 9:46:00 PM
From: Carl van Rooyen	Read Replies (1) \| Respond to of 4969

Steve, thank you very much for your response. Let me say immediately that I would never dream of implicating anyone else that would comment on this affair. My intention was to make people aware (it seems many were already) of how bad it can get. I am not drumming up support that I could then package. I consider myself a confidential person that respects the privacy of others. I have to tell you the response to my little story has been a bit overwhelming. I emailed what I thought were a few key people and put up my post in a few places. The discussion has been active and, without exception, positive. I am impressed and thankful that people like yourself would take time to share their thoughts in depth. I paid close attention to your appraisal of my situation. I thank you for your concern and good wishes, and particularly for your clear analysis. I can't agree more that errors do happen. I am a businessman who, like yourself, has to take responsibility when things go wrong. It's part of the deal. What an expensive lesson this has been, not to mention that my attorney just suddenly became my guest to the Ryder Cup. Oddly enough, when the very late fills hit me, I wasn't worried about it because I was sure they'd correct their mistake. When I couldn't get a supervisor to respond for nine days - that's when I knew it was time to worry. And unfortunately, to answer your suggestion, a free trading compromise could not be a solution. I have most certainly made my last trade with that outfit. And now for a little humor to close my dreary post: From the Barron's ad..."With Web Street Securities you're in charge now. You've got the power." Thanks again for your time, Steve.