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Non-Tech : Datek Brokerage $9.95 a trade

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To: jawd who wrote (8176)4/26/1998 1:47:00 PM
From: gbh  Read Replies (4) of 16892
 
jawd, I still don't see your point, as you keep stating that Datek is screwing with you this way or that way or whatever way.

Datek's "profit" is just what it is supposed to be, and what they are entitled to. They can buy at the bid (you can't and you will never, ever, ever be able to unless you become a MM), and they can then turn around and sell those shares at the ask (you will never, ever, ever be able to unless you become a MM).

This "fact of life" seems to upset you, and I'm not sure why. Please explain.

Does it bother you that Datek can be the MM on a transaction? If so, then find a new broker, because this will never change.

But in my experience, when Datek is not having system problems like on Tuesday morning, this ALWAYS benefits me be raising the likelihood (but not guaranteeing) that my limit order can be filled between a spread.
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