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Non-Tech : Datek Brokerage $9.95 a trade
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To: Morpher who wrote (5147)10/5/1997 7:27:00 PM
From: robert klasky   of 16892
 
>>Since bid and ask prices are usually more reliable than last price with Datek, I think they should listen to my suggestion and use bid on longs and ask on shorts to determine account value.

Morpher, I've been with Datek for over a year now. When they first started out, the way you suggest is the way they calculated portfolio value and buying power. However, there were alot of complaints about that on this thread (remember this is last fall I'm talking about now), and Datek changed it to the current system (using last price) in response to the complaints.

For the record, I like the old way better, since it was more conservative. Also, your buying power and portfolio power wouldn't shift around as much during the day since last price changes much more often than bid/ask.

So Morpher, I'm with you!

bobk
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