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Non-Tech : A.B. WATLEY - THE ULTIMATE TRADER! -- Ignore unavailable to you. Want to Upgrade?

To: wily who wrote (923)	4/8/1999 9:32:00 AM
From: Dan Swartzendruber	Respond to of 2045

also, if Fidelity is that good, maybe I'll follow you over there... For short-term (not daytraders), fido has been outstanding for me. I am a recovering waterhouse customer, so I know! :) Wily, I have several times gotten totally unexpected price improvement on limit orders (and almost without exception, the fills are within 10 seconds or so).

To: wily who wrote (923)	4/9/1999 1:22:00 AM
From: Gary Korn	Read Replies (2) \| Respond to of 2045

Wily, I tried the NASDAQ button today on INTC with limit orders to get in. Once again, it didn't work in a fast market. That is, the fill didn't happen. Worse than that, the cancel took too long to come back with a report (i.e., that the order had in fact been cancelled). Once again, I had FIDO's web site going and the fills came back quickly, as did the cancels when I had missed the price. Clearly, what is going on is that FIDO must be matching up orders against their own in-house MM (at least for some stocks, like INTC, DELL, CSCO). So, even if only 100 shares show on the ASK (and I generally wait to pounce until the very last moment, when it is clear which way the stock is heading for the next 1/16th), FIDO must use its own inventory to complete my entire order of 500 shares. Notwithstanding the above, it has only been 1 week and I've more testing to do. Perhaps Watley will be fine for position trades. Plus, it is nice to have a quote system tied in with a trading system. Best, Gary Korn