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

To: Scott who wrote (6735)	2/9/1998 10:39:00 PM
From: Rubber Man	Respond to of 16892

All mutual fund transactions are based on end-of-day NAV. From the time the previous NAV is calculated to the time the next NAV is calculated, any transactions will be based on the the latter NAV. I'm sorry, but you can't beat them this way.

To: Scott who wrote (6735)	2/9/1998 10:44:00 PM
From: MStonek	Respond to of 16892

<<and purchase a fund based on a price that was calculated the day before>> When you buy a fund (an open ended one, that is) before 4 PM, you get the price (NAV for a no-load) that will be calculated at the end of THAT day, not the price it closed at the previous day. When buying mutual funds you never know what price you will get, so it doesn't make sense to day trade them ... I think it is safe to say that MF investors can use the new servers... Now that I think of it, the "new" Datek must've been done with them in mind. Definitely not for daytraders ...