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: Marie Thorsson who wrote (927)	1/15/1997 5:04:00 PM
From: Gorak Shep	of 16892

Marie, first thanks for posting the details of your trade. That adds a lot to evaluating what happened. I am not sure what you mean by the order execution screen, maybe the Daily Activity screen? Did you actually get a quote with Ask at 106 after the Daily Activity screen showed you had bought the stock for less? Otherwise it is a little hard to tell precisely when the downtick occured. If the Ask was already down to 105 7/8 when your order actually entered the Datek system, then you should get it at 105 7/8 even with a limit order of 106 else you would have been ripped off. Datek is truly fast when you are going against the tide ie buying when the price is declining or selling when the price is rising; but then you'd have been better off not making that trade. Going with the tide, especially on high volume stocks, Datek can be much slower though perhaps faster than other brokers. I made several trades today either buying at the Ask or selling at the Bid, and over 40% of those trades took more than a minute. Sure I get free commission in those cases but I would much rather have the fast execution.

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