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: Mama Bear who wrote (8194)	4/26/1998 8:37:00 PM
From: gbh	Read Replies (1) of 16892

I never said it was easy (but you said "never/ever") My reference to "never/ever" is when someone lines up with all the MMs at the current bid. Its my experience that I will "never/ever" get filled unless the bid ticks down. I assume others are just not more "special" than me. I too have been filled at the new best bid if I bid between the current spread. But only if the MMs don't follow me. If they follow me up, forget it I don't get filled, nor would I expect to. Sorry if I have been confusing on this point. I did at Waterhouse. I got bored with scalping, and Waterhouse would constantly send me reg t calls (they only update once a day) and I'd have to call the account rep and get it straightened out. I really got tired of doing that every day. So its harder to scalp at Datek but more convenient. OK. The main thing that caused me to move to Datek was the availability of shorting garbage stocks like PNDA, and thin issues like KTEL and MARG. I made a lot of money on those 3 issues in the short time since I've moved to Datek. Yes, this is what I've heard, always stock to short. I typically only buy and short larger more liquid issues (ASND, INTC, etc.). This could explain our different experiences. PNDA is a company (if you can call it that) right around the corner from me. You could short this one to 0, IMHO. Funny you should mention KTEL because I made 9 points on that guy last week is less than 15 minutes :) but gave most back the next day on SEVL dropping almost 4 :( I'm sticking with my big guys now. BTW if you followed this discussion back, it started with people whining about Datek screwing them around on a consistent basis. Other than Wednesday, when Datek definitely had problems, what has your experience with them been? Gary

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