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Non-Tech : Datek Brokerage $9.95 a trade
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To: nick nelson who wrote (12538)6/21/1999 3:32:00 PM
From: Ira Player  Read Replies (1) of 16892
 
Here is one on ignorant, arbitrary rules.

I do not use Datek for a significant amount of trading and they continue to provide reasons for a further reduction.

Check out this "rule".

1. You place a sell order that is a short
2. an uptick occurs
3. a partial fill occurs
4. a downtick occurs
5. the remainder of your short order is cancelled

There is no logical reason for doing this. The order is cancelled when all that is required is the wait for another uptick.

This is an arbitrary decision by Datek that impacts, further, their uselessness for shorting.

Ira
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