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Non-Tech : Datek Brokerage $9.95 a trade
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To: LEVEL7 who wrote (9719)9/17/1998 10:15:00 AM
From: Mama Bear  Read Replies (1) of 16892
 
LEVEL7, I have had 2 orders 'timed out' on Datek. Both were short sales. One was a market order, and the other a limit. The explanation I received from the phone monkey on the second was that the stock had downticked after I entered my order.

I have also had 2 short trades 'killed' because of a downtick. One was a limit at 23 1/2. The inside bid downticked to 23 7/16 6 seconds after my order was entered. It is my understanding that a short sale is legal on Nasdaq as long as it is at least 1/16 above the inside ask.

But, good luck getting Datek to respond or explain. They play by their own reality. If the benefits did not outweigh the negatives I would be gone.

Datek should be on notice that their glitches do keep me from moving all of my brokerage business to them. I have long since given up hope that 'Datek reality' will change.

Barb
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