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Non-Tech : Datek Brokerage $9.95 a trade -- Ignore unavailable to you. Want to Upgrade?

To: Richard James who wrote (15095)	10/28/2000 5:22:55 PM
From: rjm2	Read Replies (1) \| Respond to of 16892

I am quite sure Datek did not advise a senior to buy QQQ. Do you REALLY think they are going to compensate you for a poorly advised "what if" scenario ? The fact of the matter is the senior should be mostly in t-bills and certainly NOT QQQ. From that you cannot get Datek to pay damages on what-if trades in wildly speculative internet plays. If anything Dateks screw up probably saved this person money in the long run becuase then they would have been even more fast & loose with their retirement funds. Perhaps you should sue whomever was advising your client.

To: Richard James who wrote (15095)	10/28/2000 5:29:34 PM
From: rjm2	Read Replies (1) \| Respond to of 16892

So you don't believe that there are elderly assuming way to much risk with their life savings? I believe a great number of people trading with discount brokers should not be doing so. (Natural selection will resolve that problem) At the same time, I cannot fault a $10 discount broker for a bunch of ignorant people who likely gamble on lottery tickets and everything else. Just as sure as we are typing this, had that senior lost 10% or more on QQQ you would be suing datek for "suitability" disclosures. You have every right to lost interest income, but expecting reimbursement for what-if trading gains on speculative ill-advised trades is crazy.