Datek Brokerage $9.95 a trade Message Board

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Non-Tech : Datek Brokerage $9.95 a trade

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To: Jon Tara who wrote (2555)	5/8/1997 11:23:00 PM
From: Ray Jensen	of 16892

Jon, good observation. My experience is similar with Datek since I moved my account to them last July. I also notice that the times when a limit order is filled is when the ticker is working against your limit order. For example, if you have a limit buy order at the bid price, and it gets filled quickly, usually that stock is on a strong downtick and the bid is headed a lot lower than the price you just thought was a bargain. It means you picked a bad time to buy. The opposite applies to a quick fill of a limit sell. If it gets filled right away, it means that the price is headed up and you sold too soon. I also agree with Investor2 that when you really want to sell a stock, and make sure you sell it now, a market order is the way to go. I have had close to 100% success with Datek at fast executions with market sell orders and getting the price that was shown on the real time quote. If the spread is a quarter point or less, its not worth the risk of watching the price fall out from you while waiting for a limit sell order to close.

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