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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: Jay Fisk who wrote (9123)	2/4/1999 10:10:00 PM
From: moby_dick	Read Replies (2) \| Respond to of 122088

I am filing suit against ETrade already. Back in early Jan. I had DBCC as it was running up. Well, I was thinking about selling the covered calls as placed an order. Later, I decided against it and cancelled the order. I WAITED UNTIL ETRADE SENT ME A CONFIRMATION THAT THE ORDER WAS CANCELLED before selling DBCC. This was to be sure I wasn't exposed with naked calls - 25 contracts. This was on a Friday. Monday, when I go into my account, there are 25 SHORT calls. I go to my trading history and they had REVERSED the cancellation. By then, DBCC had climbed 15 points and the calls were against me in a big way. To make a long story short - that f-up by E*Trade cost me $19.9K! (Luckily I have made back almost $30K in the past month - thanks to A@P!). However, I am pursuing this issue with a lawyer through simplified arbitration. He thinks we can recover about $15K (but, I will have to give him 40% of it). Until then, I was pretty happy with Etrade but .... Moby.