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Bill,
I know of a number of sad stories that happened during the
October "meltdown". I believe this is part of the price one
pays for "cheap internet" trading. The firms that created
gridlock in October, refused to foster any liability for losses.
I've even heard of a situation that trades were entered, but
not confirmed, so the individual reentered the trades, only to
become net short. Sorry about your predicament.
Steve Karnish
CCT
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> From: Bill Saxon <bsaxon@xxxxxxxxxxxxxxx>
> To: Metastock EMail List <metastock@xxxxxxxxxxxxx>; Fasttrack
EMail List <fasttrack@xxxxxxxxxxxxxx>
> Subject: Fidelity failure
> Date: Tuesday, August 04, 1998 2:01 PM
>
> I was out of the market last week except for two stocks, with
the money I handle
> myself. With this further deterioration I decided today to
get out of those two
> when the Dow was down about 175 pts in the afternoon. I could
NOT get on
> Fidelity's Website after a half hour of trying. My wife was
waiting
> (impatiently) for me to leave so I consoled myself with,
"Maybe it will finish
> higher". Now I wish I had just tried to make a phone call and
pay the price to
> get out. Anyone else have a problem? What happens in a real
meltdown?????
> This cost me a couple of thousand, what if the whole wad rode
on some kind of
> account servicing???
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