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Non-Tech : Datek Brokerage $9.95 a trade
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To: facai who wrote (7678)4/2/1998 12:54:00 PM
From: Michael Abramson  Read Replies (2) of 16892
 
Placing limit order above ask on falling stock you expose yourself for MM play. For example if only one MM on ask side he can easily lift ask to your limit and legitimately strip your 1/16, you even wouldn't have a chance to see change in ask. Trades for 1/4 could be conducted some time earlier or later in any event your are not entitled for wholesale price. But if your are able to prove that trade was out of spread you have right for compensation. Most likely this event has nothing to do with Datek.
Michael.
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