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: Rubber Man who wrote (8152)	4/24/1998 4:12:00 PM
From: Bill Rood	Read Replies (1) of 16892

Quick anatomy of a Datek trade. Put in to buy CGCP at 7 3/8 no island sellers so you get the proccessing status as soon as the price moves you get open day that means you become the bid so the only way you get filled is if someone sells to you which won't happen on a stock with recent news or momentum.Cancel order try to buy at the new ask 7 5/8 no island sellers you get the proccessing status . This time it sat at 7 5/8 for a couple of min so they cant keep saying proccessing you get the good old ? for your status. Datek equivalent of clueless. stock moves order becomes open why because you know have become the bid. Cancel again try 7 7/8 same thing proccessing but this time theres a shake and stock drops to 7 3/4 and i get my fill @ 7 7/8. They tell you if there is no island match your order is immediately worked, they dont tell you the only way you get a non island fill is if the stock turns against you and you will get filled on the way down. Why? MM dont do Datek trades in fast moving stocks they move the price away from them. only take Datek orders on way down. Have a nice weekend everyone Bill Sorry for all the posts just getting my $4500 worth

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