|
PureBytes Links
Trading Reference Links
|
RealTraders:
I agree, getting through to Schwab was a disaster this morning. At 0935AM
(EST), I decided to pull the trigger and go long with ESV and CSCO. I
watched CSCO run up to 76+ by 10:15 or so (didn't note the exact time)
while diddling with the phone. They answered the 800 number, and then
kicked me off with a busy signal whenever I hit "button 2" to transfer to
the trading desk. I have institutional rates with them. I think maybe I
should have checked previously to see if they had a special number, but I
never had a problem before. I finally got through by reaching their "help"
desk shortly after 10AM.
Bill Griffeth on CNBC was repeatedly mentioning the phone line problem and
interviewing some people about it, so I sent him the following two EMails.
Most of the discount houses seem to be in denial about the problem. I
will print out the EMails and mail them in an envelope to Schwab Customer
Service.
A very sorry show, and it cost money! For someone trying to cover a
leveraged short position it could have been truly catastrophic! Maybe I
should have called before the open and gone in "blind" at the market. I
may be fearless, but even that is a bit much for me.
Send your complaints to Bill and let him hammer the discount houses.
(Copies of my msgs follow):
Regards,
Nick
..............
1st message:
TO: "Bill Griffeth" <squawk@xxxxxxxx>
Subject: PHONES TO SCHWAB A DISASTER TODAY
BILL:
Schwab's trading desks gave busy signals from 0935 (EST) until after 10:00
this morning. Attempted to place order to buy CSCO at 0935 and could not
reach a trader until CSCO ran up to 76 1/2. Was hoping to buy at the 71
level after the opening. The 1(800)435-4000 number answered, but would
kick me off the "button 2" (to place an order option).
In essence, it was impossible to place a trade with Schwab for over 30
minutes.
For all practical purposes, Schwab was out of business this morning!
...........
2nd Message: SUBJ: SCHWAB STILL OUT OF BUSINESS:
BILL:
Schwab's trading desks continue gave busy signals 12:28PM(EST). The
1(800)435-4000 number will answer, but would kick me off the "selections"
for quotes, placing orders, customer service, etc. give busy signals
Schwab is still out of business!
Nick Pishvanov
|