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Non-Tech : Datek Brokerage $9.95 a trade
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To: Esteban who wrote (6464)1/28/1998 1:09:00 AM
From: Dan Duchardt  Read Replies (2) of 16892
 
Esteban

I'm glad for your good experience, but I wouldn't let go of that nagging concern. My experience has been quite the opposite. I bought one AMEX stock with Datek at 3/4. In late November and early December, when the price fell to 5/8 ask by 9/16 bid I offered it at 5/8. For over a day, with hundreds of executions at both prices, I I did not filled. The price fell to 9/16 by 1/2, and I lowered my price to 9/16. For over three days the bid and ask held steady with hundreds of trades at both prices each day; I never got filled. When it fell again, I hoped a lot for a bounce back that did not come. When it fell yet again to 7/16 by 3/8, and the news came about a reverse split so they could stay on the exchange I let it go at market for a 50% loss. That's a BIG TIME HURT!!

I have no idea how Datek handles AMEX orders, and as can be seen from reading this thread, trying to call or email is usually just a waste of time. I finally got an email a week ago from somebody asking me to explain my issue. It sounded like the guy had never read the email I had already sent about this and other problems I have had. Seems my name must have finally percolated to the top of a long list.

I have no idea how Datek handles AMEX orders, but I gave up of any hope of price improvement on listed stocks.
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