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Non-Tech : Online Broker Down - Sue 'em - EGRP, JBOH, AMTD, SCH, NDB -- Ignore unavailable to you. Want to Upgrade?

To: Hubert Few who wrote (59)	2/6/1999 10:02:00 PM
From: Bob Duncan	Read Replies (1) \| Respond to of 253

Hubert: I also have had trading issues like you discribe with Etrade in the past. Typically it has been in the form of two trades going through when one had been "pending cancelation" for hours. I know some here would say never trade if you are not sure if it canceled - however I can detail and document cases where I canceled an order to buy a stock at 8 when it was trading at 9, and still have the order go through when the stock hits 8 hours later. I can see how an order could go through if we are talking about 1/8 of a point, i.e. say you cancel but the MM already placed the order. I also would be interested on the SEC legality of this. As I am 23, had the nightmare happened and AMTD doubled in value in one day and I was short 840,000 worth of AMTD because of Etrade system mistakes I would have simply declared bankruptcy and Etrade would be holding the bag for an 840,000K loss. So from that standpoint I would be concerned if I were an Etrade shareholder as they have GOT to put better safeguards in place. At the very least, have the program search for a clients equity % and not execute trades if they seem out of order. In my view, it is shocking that Etrade shareholders are not concerned that Etrades system allowed this to happen. If it happened to me, it surely happened to someone else.