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Non-Tech : Datek Brokerage $9.95 a trade
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To: Mama Bear who wrote (8254)4/29/1998 6:28:00 PM
From: MStonek  Read Replies (1) of 16892
 
<<I have noticed that my balance will be different from one days close to the next days
open. Since Datek started marking to market based on the bid (for longs) and ask (for
shorts) it's something I expect. For example, I'm short MARG now, and the closing ask
was 11 1/4. Unless MARG opens with an ask of 11 1/4, my opening balance will be
different in the morning, and will reflect tomorrows opening ask. Perhaps that is the
source of your problem? If you go home in cash every night, I don't know what to say.
>>

Barbara,

The account balance shouldn't be affected by the mark to market. The only thing that can cause the balance to change is activity: trades, interests, dividends, etc. Mark to market will only affect things like buying power, long market value, etc.

So the closing balance one day should match the opening of the following unless that day happened to be the one when they charged you the monthly margin interest or when you received some cash dividend.

Mike.
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