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No, I didn't enter a market or stop order. Here's what did happen, which still ended up costing me...
Last Friday morning, I decided to check the O.J. chart out, since I previously noticed that there might be at least a few cents to be had on an anticipated leg up once a correction had run its course. It appeared to me after Thursday's action that the correction could be ending in a downward wedge, and Friday morning the price gapped down to complete the formation. With the price at 81.10, I put in my order to buy at 80.95 or better; six minutes after my order went in, it hit 80.90 and I assumed I had a fill (yes, I know what happens when one assumes). O.K., now prices go up a bit. After half an hour of waiting for a fill report, I called the brokerage to get confirmation - nothing back yet from the floor. Huh?
Another 15 minutes passes, and the price drops to 80.85. Now I figure I must certainly be filled, but I'm getting nervous. I call again to see about confirmation - there's nothing. Another half an hour of sideways prices, and still no confirmation. Finally, with only 45 minutes left in the session, I call again. I'm put on hold while they call the floor, only to be told that both times I thought I should have had a fill, the exchange deleted the trades I thought happened. Typographical errors, I'm told. I thought I was being scammed by the CSCE, but low and behold, both trades that went through my price have indeed been deleted from the official time and sales. Can I pick a number, or what?!!
It seems to me that in a market that's trading as slowly as O.J. did last Friday that SOMEONE could have managed to find the time to let me know that my order hadn't been filled, at least within half an hour of the second deleted trade. I guess I expect too much from them, but it would have been nice to know with two hours left to go as opposed to 45 minutes, most of which was spent getting a freaking answer to a simple question! Naturally, prices have moved generally as I'd expected since waiting all frigging day for nothing! Maybe it's a fluke, but I seem to be receiving more than my fair share of flukey negative incidences lately, and it's getting old. No wonder my hair's turning gray...
Better days ahead I reckon : )
Agingly (?),
Dennis
----- Original Message -----
From: nwinski <nwinski@xxxxxxxxxxxxxxx>
To: <dennisconn@xxxxxxxxxxxxxxxx>
Cc: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, March 15, 2000 1:28 AM
Subject: Re: [RT] FUT: time & sales needed
>
>
> Dennis L. Conn wrote:
>
> > Hi RT's,
> >
> > I'd appreciate it greatly if someone could provide the official time and sales in May OJ for 3/10, from 11:00 to 12:00 Eastern time.
> >
> > Gotta love those N.Y. markets - NOT.
> >
> > Regards,
> >
> > Dennis C.
>
> Dennis,
>
> There is no doubt that the NY exchanges are the worst. However, he who trades very thin markets such as OJ takes added risks and
> should not be surprised when they get bad fills You didn't enter a market order or stop did you? That would be asking to get screwed!
>
> Good Luck,
>
> Norman
>
>
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