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Non-Tech : Datek Brokerage $9.95 a trade
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To: Esteban who wrote (9580)8/30/1998 4:29:00 PM
From: RockyBalboa   of 16892
 
It can be the case that the bid ticks down while my or other selling orders are - partially executed, if as usual the size was too small.

In that case usually the remaining order stays in the system.

The Nasdaq downtick rule applies to "marketable" orders, therefore you can not hit the "red bid" with a market or limit sell.

But you can always place a higher (short) sell order - appearing as best ask, if it is placed with such a limit. Previous unfilled or partially filled orders usually stay where they are.

Hitting an uptick bid and a partial fill should you leave with the rest of the order in the system. I do not like a Fill-or-kill feature.

I will send an inquiry to Datek regarding the "timed out order" and post an occasional response.

Christian
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