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: Crabbe who wrote (3325)	6/20/1997 2:53:00 AM
From: Randall Thomas	of 16892

<<I looked at the intraday graph, PAIR traded before the bell at 18 1/4. That was probably MM's adjusting inventory between themselves. The stock then moved up in pretty active trading. As your order was a Market Order, either a MM or SOES bandit got you for a lousy price. I if it had been me I would not blaim Datek, I have a policy,NEVER PLACE A MARKET ORDER BEFORE THE OPENING. I would think that as a Market Order it was not placed on ISLAND and that it was routed properly to SOES or a MM and as often happens the openning is volitile and someone gets screwed in this case it was you.>> There is a lot of conjecture here. Your explanation of pre-open prints is generally inaccurate, as well as your statement that a SOES 'bandit' could somehow take advantage of a datek market order. The only way a soes 'bandit' could whack a datek 9.99 customer's order is if it is placed on isld and the soes trader is able to pick off isld orders. You do not understand what you are giving explanations for For fills around open, it is necessary to use a real broker like eschwab (Schwab = MASH) or someone else who has and honors an agreement with a wholesaler to fill orders promptly. Datek does not fit this category..

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