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Bad Brokerage This AM?
Old 09-19-2008, 12:12 PM   #1
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Bad Brokerage This AM?

I got up well before the open this morning to take advatage of any obvious weirdness. Market opened with some of my holdings up 20, 30%- so I tried to sell some. No way. Fidelity website was non-functioning. I planned to eat and grab a bus downtown to the Fido Center to trade there, but by the time I finished breakfast website was back up, and the very attractive bids were gone.

This really annoys me.

How were your brokers?

Ha
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Old 09-19-2008, 12:14 PM   #2
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Someone posted they had a problem with Vanguard this morning.
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Old 09-19-2008, 12:19 PM   #3
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Vanguard's brokerage services were also overloaded this morning. I got this message upon logging in to my account:

Quote:
A message from Vanguard Brokerage Services®
Due to recent market volatility, we’re experiencing heavy call volumes. For account inquiries, you may contact us via e-mail. Important: Do not forward requests to place a transaction via e-mail. Note that previous day holdings displayed for brokerage accounts are as of September 17, 2009. Additionally, completed orders from September 18 are still being reflected on Order Status. To reach an associate via e-mail, click on Contact Us at the top of any vanguard.com page. We apologize for any inconvenience.
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Old 09-19-2008, 12:21 PM   #4
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In addition Vanguard ETF's are changing exchanges today so there are no quotes.

DD
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Old 09-19-2008, 12:28 PM   #5
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Schwab shut down after-market yesterday about 10 minutes after it started. Found out in Fidelity you can not enter a pre-market order in the middle of the night.
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Old 09-19-2008, 12:30 PM   #6
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Hewitt, provider of the self-directed brokerage account in my 401k, was down earlier also.
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Old 09-19-2008, 12:31 PM   #7
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GE just asked to be added to the SEC short sale restricted list.
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Old 09-19-2008, 12:37 PM   #8
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My Fido was down.
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Old 09-19-2008, 12:54 PM   #9
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FYI Most of the major brokerages had problems today. Pershing which has about $1T in customer accounts shut down web trading for almost all of their independent advisors due to settlement and reconciliation issues from yesterday's close. Pershing does all the clearing for Vanguard Brokerage Services.

Schwab's fixed income platform went down due to activity yesterday afternoon for an hour.
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Old 09-19-2008, 01:58 PM   #10
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Quote:
Originally Posted by haha View Post
I got up well before the open this morning to take advatage of any obvious weirdness. Market opened with some of my holdings up 20, 30%- so I tried to sell some. No way. Fidelity website was non-functioning. I planned to eat and grab a bus downtown to the Fido Center to trade there, but by the time I finished breakfast website was back up, and the very attractive bids were gone.

This really annoys me.

How were your brokers?

Ha
Glad I did my buying yesterday. Couldn't resist AAPL at $125.

Audrey
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Old 09-19-2008, 02:08 PM   #11
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Glad I did my buying yesterday. Couldn't resist AAPL at $125.

Audrey
Audrey, what kind of apples are those? I get mine from the local farmer's market for only 99 cents a pound........
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Old 09-19-2008, 02:09 PM   #12
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Quote:
Originally Posted by saluki9 View Post
FYI Most of the major brokerages had problems today. Pershing which has about $1T in customer accounts shut down web trading for almost all of their independent advisors due to settlement and reconciliation issues from yesterday's close. Pershing does all the clearing for Vanguard Brokerage Services.

Schwab's fixed income platform went down due to activity yesterday afternoon for an hour.
We had to call in our trades, but I still got trades done faster than I did myself.......
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Old 09-19-2008, 02:37 PM   #13
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TD Ameritrade wasn't very functional for the first hour or so at the open. This has been the case most days this week. When I complain/whine, they usually offer up free trades but that doesn't help much when you have trouble placing trades.
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Old 09-19-2008, 02:42 PM   #14
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E-trade was OK for the entire day, wish i sold in the morning but i just sold all my play money that i bought with a few days ago for a nice gain

market should have rallied higher after 3pm, but it's a little weak so i sold. will probably buy back in later next week.

longer term i see a rally for a little while but the risk is the details of any legislation
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Old 09-19-2008, 02:42 PM   #15
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Quote:
Originally Posted by haha View Post
I got up well before the open this morning to take advatage of any obvious weirdness. Market opened with some of my holdings up 20, 30%- so I tried to sell some. No way. Fidelity website was non-functioning. I planned to eat and grab a bus downtown to the Fido Center to trade there, but by the time I finished breakfast website was back up, and the very attractive bids were gone.

This really annoys me.

How were your brokers?

Ha
Same problem. I had one I wanted to sell, but could not get in. Now, the stock is down. Gonna watch it close before the final bell though.
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Old 09-19-2008, 02:42 PM   #16
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Originally Posted by Lakedog View Post
TD Ameritrade wasn't very functional for the first hour or so at the open. This has been the case most days this week. When I complain/whine, they usually offer up free trades but that doesn't help much when you have trouble placing trades.
What REALLY doesn't help is when the stock moves against what you were trying to do, and you get screwed because you couldn't get the order placed...........
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Old 09-19-2008, 03:09 PM   #17
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Audrey, what kind of apples are those? I get mine from the local farmer's market for only 99 cents a pound........
Yeah, I guess I like them expensive AAPLs!

Audrey
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Old 09-19-2008, 03:17 PM   #18
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Got it before the bell.
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Old 09-19-2008, 03:18 PM   #19
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Got it before the bell.
Congrats!
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Old 09-19-2008, 03:35 PM   #20
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Congrats!
Next week I will be crying because someone has bought out the company at a huge premium. Born loser principle.
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