To: Anthony@Pacific who wrote (16608 ) 3/3/1999 2:32:00 PM From: timers Read Replies (1) | Respond to of 122089
Anthony, Help! Answer this later if you have to, but I need to know something. I put in a short on CCL at 43-3/4. Then I cancelled it because I entered too many shares. It was a direct entry online and I sent it to ADPSIS. My cancel never came back as confirmed, and my order sat live for an hour. I called Watley twice and they called the floor. They didn't get me an answer. In the meantime the price goes up and then back to 43-1/2. Then I call Watley and they said "I'll just have to wait until they report from the floor". FOR A WHOLE HOUR AND I DON'T KNOW WHETHER I OWN OR I'M CANCELLED. So, I couldn't take action to cover for a profit because I don't want to buy the stock if I was already cancelled. Watley gives me the option to cancel the whole thing or "WAIT". This seems like total BS to me. The MM can sit there with my order live for a whole hour, or two, or three la de da....and everyone can just trade against ME! If the market goes against me....then fill my short. If it goes against me, then cancel the order. Isn't there some law that says they have to give me my status in a certain amount of time? And isn't Watley required, as a licensed broker to take action on my behalf or SOMETHING. I took the cancel because the stock started moving back up. What Watley did, I'm sure was that they knew they would be able to press the issue and get the fill....so they covered and made the profit. If I had waited I would have gotten burned. I'm furious and afraid to enter another order. It was not an OTC stock. Can they sit on an order indefinitely. If you needed a run yesterday, I need an ass kicking. Please help when you get time.