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Strategies & Market Trends : From the Trading Desk -- Ignore unavailable to you. Want to Upgrade?

To: compradun who wrote (4450)	4/14/1999 3:16:00 PM
From: Tom DuBois	Read Replies (3) \| Respond to of 4969

Here's one for the Waterhouse file...I'd appreciate any insight. Bought a stock at the open today at 23 1/2. Had to leave for a meeting, so I put in a protective stop at 21 1/4. Waterhouse confirmed my order, but when I went to get a quote, the stock was already at 21. I assumed that since the stop was not rejected, I'd get filled. Came back two hours later to find the stock at 18 and my 21 1/4 Stop still showing as OPEN. Waterhouse technicians blame slow reports and suggest I hold for the day and then appeal for a fill. IF, the stock was trading below my stop when it went in, should it not become a market sell?? Or, at least, the order should have been rejected. Still holding the stock at 18+ with an "OPEN STOP" at 21 1/4. Do I have a case??