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 (9040)	7/11/1998 10:44:00 AM
From: gbh	Read Replies (2) of 16892

Picture this: One of your stocks you hold long is halted for news. This promptly causes the value to plummet to 0 the way that Datek calculates your account value (bid/ask is 0 * 0). This causes you to have less funds than are needed to clear the check. Do you think the check won't bounce? Barb, I'm not sure this will be an issue. I have had two other brokers that did checking, and for both you could only write checks against your cash balance. If you exceeded this, the check would bounce. Just like a standard checking account. I don't think a check is considered a marginable loan, as your post suggests. BTW, the brokers were Discover and Fidelity. Gary

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