You apparently work at upstart Datek as evidenced by your e-mail
address. Re this whole MCIC deal, in a fast market like that, a trader
is actually better off putting in a limit order at the ask. To ensure a
fill in case it moves on you before execution, put an "or better"
notation on the order.
By the way, who does Datek use as their market maker? I have
NASDAQ Level II and they aren't listed. What firm are you running
your trades through? A smaller market maker would have less orders
piling up as Schwab had. Their market maker, Mayer & Schweitzer
is #2 in NASDAQ volume. No one is perfect but they are impressive
and have considerable clout. In this case, stuff happens and it will
happen with Datek too.
Deep discounters (in general) many times give what you pay for.
So many traders focus just on the low commissions and not the
merits of the companies they trade. If low commissions were all
it took to have a successful investment, then it wouldn't matter what
stock was bought. However, it obviously matters.
Nice attempt at the advertisement though. For some, I'm sure it worked.
RR |
