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

To: Gary Delong who wrote (5674)	10/29/1997 8:25:00 AM
From: clark66	Read Replies (1) \| Respond to of 16892

8:25 am datek down ... trying to log in from the west. clarkt

To: Gary Delong who wrote (5674)	10/29/1997 8:53:00 AM
From: Jack Zahran	Read Replies (1) \| Respond to of 16892

Gary, From the messages on the Datek thread yesterday, it looks like they had their fair share of problems, though not like Shwab or Fidelity who have far more subscribers. They biggest problem was with Internet Broker's who use HTML as their front end. Notice that ABWATLEY's Ultimate Trader system although running slower than usual yesterday was giving instant confirmations over the Internet. They don't use HTML but work at a lower level on the Internet communication stack, thus less communications overhead. In addition, they allow you to pick and shoot your orders right off of the level 2 screen. So when SOES, SNET, and various ECN's were having problems, you could have direct your orders directly to another MM, or to a system that was working. With "discount brokers" still heavily advertising, you can expect these type HTML trading systems to continue to have problems on busy days. The kind of days that a lot of money can be made or lost. Don't forget that it was the individual investors who were buying yesterday!

To: Gary Delong who wrote (5674)	10/29/1997 9:22:00 AM
From: Larry Voyles	Read Replies (1) \| Respond to of 16892

Odd, interactive.wsj.com seems to be dead this morning. Maybe it's all those online traders reading about what a bad time they had. As a penance for continuing to hang on to my sentimental favorite dog stocks through this turmoil, I went home and read the good parts of "Reminiscences of a Stock Operator" by Edwin LeFevre again. I wish I could be that clear-headed. From the article in WSJ, it sounds like online traders at other services had a much worse time than we did. Again, I refuse to slam Datek. I'm still disappointed that I couldn't hop on earlier in the rally, but I think they have an excellent product and service. As I said before, there is a lot to like about Datek. Somebody in this thread came up with the idea of "Datek Professional" with a TCP-based local application on your workstation. I kinda like that idea, although not in the $30-$50 commission range. For that price, I could trade at some plush broker's office, sit in their comfy chairs and read their glossy brochures about how smart long-term investors are and how stupid day traders are. Anyway, I'm planning to hang with Datek. I'm morbidly curious to see how they implement options trading. I really need a more exciting way to lose money. Ten minutes until the bell. Gotta go get my ducks in a row.