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: Charliss who wrote (6310)	12/23/1997 1:22:00 PM
From: The Vet	Read Replies (1) of 16892

<<Datek claims to offer real time quotes: are these snapshots, and not tick by tick? >> They are snapshots but you can refresh as quickly as you can press the "Get Quote" button so on slow movers there is no real difference. As an example I just put in a sell on a NASDAQ stock. Bid 3 1/4 Ask 3 5/16.. My sell 5000 shares @ 3 1/4. I was filled for 1000 @ 3 1/4 and the bid dropped immediately to 3 1/8.. About 5 minutes later the ask dropped from 3 5/16 to 3 1/4 (obviously it takes that long for the MM to reject the rest of my order and for it to be placed back on Island). Since that time the bid has remained at 3 1/8 and the ask 3 1/4.. I have not moved any of the balance of the 4000 I have left but the volumes show that a further 1200 shares have been traded @ 3 1/4. Obviously my offer at $3 1/4 was there first but I won't get a fill until the MM is prepared to move the bid back to 3 1/4 and he will continue to trade around my price on Island until the market closes.

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