Re:

["RAY RAFFURTY" <rraff@xxxxxxxxxxx>]

            Hi Gary,

            I make it a policy never to enter a trade, no matter how good it
looks, if there is a problem such as this.  It doesn't matter if it's at my
end, my broker's end, at the exchange (such as happened earlier this month)
or anywhere in between (such as the Internet).  If I am in a trade when it
happens, I take immediate defensive action such as calling the broker and
placing a tight stop, canceling any unfilled orders, or heaven forbid,
closing a position and taking profits.

            I'm shure you know this by now, but there are new traders here
who perhaps aren't aware of the risks of "trading blind".  Remember good
trades are like busses and beautiful women (handsome men), there is always
another one coming along. {;-)

                                            Good luck and good trading,
                                                        Ray Raffurty

-----Original Message-----
From: Gary Fritz <fritz@xxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Monday, November 16, 1998 11:51 PM
Subject: Re:


> PMB WAS DOWN FROM THE OPEN TO 1156 A.M. EASTERN TIME TODAY. THIS IS
> THE FIRST TIME THEY HAVE BEEN DOWN SINCE I HAVE BEEN TRADING WITH
> THEM (9/27/98).

FWIW, it was also down on 10/27.  I was actually calling the order
desk, since some bugs/problems in PMBe kept me from entering my order
electronically.  The order desk just uses PMBe to enter your order,
or so I've been told.

Anyway, at 2:56ET on 10/27 I called in an order and got put on hold
for several minutes.  They finally came back and said the system was
down and they'd called the order to the pit.  Fine, I figured, that's
probably at least as fast as electronic entry, right?  Shouldn't take
more than 15-20sec to call the pit and get the order executed.

When they called me back, they gave me a fill that was about 8pts (in
the ND) better than it could have been.  The market hadn't touched
that price for over 15mins before I called.  I said "No, I wish," and
told them to check again.  An hour later they came back with a fill
that made me wish I'd shut up and accepted the first one!  I'm still
arguing with them about it, but the fill price they gave me wasn't
touched until almost FIVE MINUTES after I called.  They're claiming
that was an acceptable fill, "given market conditions."  Which is BS,
since the market was slow and almost flat then, luckily for me.

I was not pleased.

Gary