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Pastimes : ETRADE Sucks! -- Ignore unavailable to you. Want to Upgrade?

To: Iceberg who wrote (2290)	4/23/1999 9:36:00 PM
From: tiquer	Read Replies (1) \| Respond to of 3262

On the 19th shortly after Etrade's site came back up from being down (~1350)... I placed an order to buy 300 SCH at the market... Several real time quotes were indicating 99-100 at the time. I had sufficient balance to buy the 300 shares all the way up to ~103. For some reason etrade cancels the order because of "Your day Buy order for 300 SCH at Mkt was canceled. You have insufficient funds in your account at this time." This was not even close to being accurate, and when I finally did make contact with them via phone after the typical 45 min. hold.. the cust service person did indicate to me that the stock was trading at ~99.5 at the time. He didn't understand why the order was canceled because there was indeed sufficient capital to cover the order... Now after I submit a trade inquiry.. I get back "In regards to your trading inquiry on order #74, to buy 300 SCH, no market action was taken to limit the loss. Our live Brokers are available to >>>to assist you in placing orders if you experience any problems. Thank you ** Mc**. Now this is a joke considering with Etrade one really doesn't know if the information one is getting is an error or not to begin with. And one would have to Try and get through to a "live" broker... which was I'm sure not even remotely possible since there web site was just recovered... so.. Etrade looks to be putting their error back on me... shouldn't they catch the error and alert me???????????? This is just such a joke... Any opinions or ideas for me? Has anyone had any luck with some sort of formal complaint??? Any class action law suits in the works?? Should one be started?? My only Idea is to buy very large signs for the roadways and my car indicating... "ETrade Sucks!!!" ;-) Hmmm... then I guess I could forward photos to their corp headquarters... Thanks for your ear..... Roger

To: Iceberg who wrote (2290)	4/23/1999 9:45:00 PM
From: RickT	Read Replies (2) \| Respond to of 3262

>>They also say that "You must pay for at least 50 percent of the value of the securities sold short", which doesn't make much sense. >Why does that not make sense? Again, you need 1/2 MV, short or long, to enter a transaction on margin. It does not make sense to me that I would need to PAY to sell short. If they said I needed to reserve 50% in my margin account, which seems to be the case, that would make sense. If they would give me a straight answer, that would be better. I still don't know why they are "reserving" $16K to cover $9K of stock. Nor do I know what interest I'm paying (or receiving) on the reserved money and/or the proceeds of the short sale. It would seem to be a very simple question that someone from ETrade would be able to answer. Why am I not surprised that they can't/won't?