Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Gersh Avery who wrote (69)	2/7/1999 12:18:00 AM
From: hjz	Respond to of 253

I wanted to make this a general post to all those who have used online brokers for the trading of AMZN and YHOO. On the week of Jan. 11, Waterhouse Securities actually shut it's Web broker system down because it was not able to handle all of the trades that were being placed on the Web broker, those problems continued until the day of Jan. 13 and that was the day that the market crashed in the morning. AMZN started trading 50 points below it's close the day before and YHOO started trading 70 points below it's prior close. After this disaster, most online brokers do not allow the trading of certain internet stocks online. However, the damage had been done to thousands of investors and these online brokers knew that there was a problem with these stocks but didn't stop the trading in these stocks because they didn't want to lose the bundle that they were making in commissions I know that there is a case for negligence here and I just wanted to start to get information together for all of those who traded in those internet stocks during that week and also any other traders who have had a problem since. I hope that the problems will be solved but I am afraid the only thing that will stop this is a lawsuit. I will bee looking forward to your posts or messages. Henry John