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

To: Scott Pedigo who wrote (6743)	2/10/1998 11:57:00 AM
From: Hank	Read Replies (1) \| Respond to of 16892

I don't need Datek to tell me what my portfolio is worth at the bid. Name me one reputable quote source that lists a stock price at the bid at the end of the day instead of the last price traded? A policy change and not a cheat? That's a load of BS. They calculate your margin liability based on this change and it IS significant. The effect is most evident in stocks where the spread is large. In my opinion, this is a ploy to generate additional revenues by 1) forcing people to trade more often to avoid margin calls and 2) increasing the amount of margin interest they can collect. Furthermore, I had an exerience just this week where one stock I own was quoted as 0 3/4 bid 10 3/4 ask and all of a sudden my portfolio was showing a 13.5% ratio because of this error. Do you like putting up with these types of errors? I sure as hell do not. The whole thing might not be quite as annoying if I was able to EVER get a satisfactory answer to my complaints from their Customer Dis-service Dept. Whenever I complain to them about errors like this I get the usual Datek response- silence. Yesterday, they not only did they not answer my e-mails but I was unable to get ANYONE to answer the phones there. Are these the type of people you want handling your money? I, for one, have had enough of their extremely shady manipulations and incompetence. I could go on with other examples of how they've screwed with my account but if you haven't experienced it for yourself yet, then just be patient. You will. Hank