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That's happened to me also at various times. Sometimes to my favor and
sometimes not. Your not alone. My broker hasn't supplied very satisfactory
answers either. I've had stop loss orders skipped over when I should have
stopped out. Occasionally, the stock goes on up and I still own it. I
usually verfy the high/low when that happens. In one case the data that I was
looking at wasn't accurate.
Kevin Campbell
In a message dated 2/16/99 9:49:42 AM Central Standard Time,
spider@xxxxxxxxxxxxxxx writes:
>
> -----Original Message-----
> From: GC
> Sent: February 16, 1999 8:38 AM
> To: spider@xxxxxxxxxxxxxxx
> Subject: Stock(S) Second Opinion
>
> Dear List Members:
>
> I have a problem that requires a second opinion. I have gone over this
with
> a
> friend of mine who is an ex-floor trader (stocks) and suggested that I take
> this matter to mediation/arbitration. He has also encouraged me to ask the
> group and my peers for help and guidance. If any members of Real Traders
> group
> has an opinion or comment please E-mail directly. Your help would be
greatly
> appreciated.
>
> On Jan 22, 1999 @ 9:33 ET I placed an order through an online broker to buy
> 600 shares of AMZN @ 99 1/4 limit, gtc. to cover a short position.
>
> I 'am watching the stock trade on my computer since I get real time quotes
> and
> running Tradestation ( so I "know" more or less where I am with my order.)
> Amazon trades below my price, I see prices touch as low as 99 on my chart
> after my order is in, so I assume I 'm filled.
>
> To my gut wrenching surprise I eventually discover that I'm not filled.
> Furthermore all my efforts to get to the bottom of this with my broker have
> been futile. They claimed that "AMZN is a fast market stock therefore they
> don't owe me a fill".
>
> I pursued this further and obtained time and sales from NASDAQ which
clearly
> shows that there were numerous trades that took place below my bid many
> minutes after I entered my order.
>
> This leads me to draw two possible scenarios. 1) Either my online broker
> lost
> my order which never made it to the nasdaq market-maker system or 2) the
> nasdaq market makers traded right through my price even though I had the
> best
> bid up for many minutes and never posted my bid on their board.
>
> I am appealing to you all for your input on this. This problem
> unfortunately
> involves a major part of my portfolio.
>
> Thank you.
>
>
> GC
>
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