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


To: Jon Tara who wrote (6774)2/11/1998 2:12:00 PM
From: Glenn  Read Replies (1) | Respond to of 16892
 
Speaking of spreads, I just got a quote on B that reads:
bid=27 1/2; ask=27 5/8; last 36 1/16; chg= +8 1/2

Checked both orders9 and orders3, new and old, same stuff.

Went to SureTrade's realquotes and received:

Symbol B; Last 27 1/2; Change - 1/16; Bid 27 7/16; Ask 27 5/8;
High 27 9/16; Low 27 1/2

That kind of stuff can jerk a guy's heart out if he didn't check it out and reacted on Datek's quotes! Come on, Datek!



To: Jon Tara who wrote (6774)2/12/1998 5:32:00 AM
From: Scott Pedigo  Respond to of 16892
 
Scott, was this today or yesterday?

Well, it was Wednesday, which when you asked was "today", but
now is yesterday.

There should not have been trades below your offer, unless
they were before the market opened.


That's what I thought.

The opening trade on BROD today was at 22 1/8, and it rose
from there.


I guess that implies that the trade for 21 1/4 was indeed before
the market opened.

Later in the day the price dropped back down and I finally did
get filled, but I missed the opportunity for a nice day trade.
I'm not a day trader by profession, but I know that some
day traders do use DATEK.

It seems inevitable that DATEK is going to screw up the occasional
order, so traders should take that into account, as well as the
likelihood of Internet and/or server traffic jams which
periodically block one from entering an order at a critical moment.