|
PureBytes Links
Trading Reference Links
|
I certainly agree the broker should have told him that. I'm not familiar
with Datek but if he entered the the order electronically was it possible
the order was accepted as a GTC, but in reality was just a day limit order?
Robert
hansi_klein@xxxxxxxxx wrote:
>
>In that case his broker - DATEK should
>have told him that no GTC orders are
>accepted.
>
>
> ---- On Dec 1 Robert W Cummings <rwc@xxxxxxxxxxxxx> wrote:
>> Its my understanding only stop orders are accepted for overnight in Nasdaq
>> traded stocks that will except them. Eggs does but any limit order has to
>> be place daily so from what your saying you had no order in there to be
>> filled. You placed it Friday but didn't replace it again Monday so no
>> order was there to be seen by the Eggs MM's. This is not a Datek rule but a
>> Nasdaq one.
>>
>> Robert
>>
>> Dark Hacker wrote:
>>
>> >My order was GTC with a limit to sell at 31 1/2. The price had risen to
>> >around $40 / share with no execution. I find it hard to believe that the
>> >order book was so large or that there were so few buyers that this trade
>> >could not be executed for 20 minutes above my limit price.
>> >
>> >Unless anyone can find a flaw in this reasoning, the SEC is gonna hear
>> >about this.
>> >
>> >- Hacker
>> >
>> >
>> >On Tue, 1 Dec 1998 hansi_klein@xxxxxxxxx wrote:
>> >
>> >>
>> >> good till cancel otherwise all your orders
>> >> get deleted after the last minute of trading
>> >>
>> >>
>> >> ---- On Nov 30 Sigstroker@xxxxxxx wrote:
>> >> > Did you re-enter your limit order today? If I remember, all limit
>> orders at
>> >> > Datek are for the day only.
>> >> >
>> >> > In a message dated 11/30/98 9:33:11 PM, hacker@xxxxxxxxxxxxxxx writes:
>> >> >
>> >> > > Speaking of fills, it lloks like Datek screwed me today by
holding my
>> >> > > order when they should have executed it. I entered a limit order
>> Friday
>> >> > > to sell shares of Egghead Software at $31 1/2 / share. Egghead
>> closed at
>> >> > > a hair under that price and I was anticipating a spike up in the
>> morning.
>> >> > >
>> >> > > Well come Monday I got my spike upwards as Egghead soared to $40 /
>> share,
>> >> > > however my limit order never executed even though my limit price
>> had been
>> >> > > exceeded by 9 whole points! Egghead traded around $38 / share for
>> a full
>> >> > > half hour before plummeting to $25 / share and I never got my fill!
>> >> > >
>> >> > > Worse, a friend of mine who trades with E-Trade says he experienced
>> the
>> >> > > same problem with Egghead in his account this morning.
>> >> > >
>> >> > > So are the brokerage firms holding our orders and not executing
>> them as we
>> >> > > have directed? Isn't this illegal? Are there other
explanations for
>> >> > > this? If not, I'm going to directthe SEC to look into the matter.
>> >> > >
>> >> > > - Hacker
>> >> > >
>> >> >
>> >>
>> >>
>> >
>> >---
>> >Dark Hacker | Fortress Of Computation
>> >hacker@xxxxxxxxxxxxxxx | http://www.computation.com/pub/hacker/
>> >____________________________________________________________________
>> >
>> > "Building our future... one twisted freak at a time."
>> >
>> >
>> >
>>
>
>
>-----------------------------------------------
>FREE! The World's Best Email Address @email.com
>Reserve your name now at http://www.email.com
>
>
|