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

To: Larry Voyles who wrote (6879)	2/23/1998 1:31:00 PM
From: Larry Voyles	Read Replies (1) \| Respond to of 16892

Mutual Fund Trading: Anomalies, Part VI - The NeverEnding Story Mr. Mutual Fund again. This is the sixth installment of a long, sad (and boring) story. If you missed last week's installment, I had once again tried to purchase two mutual funds (MF). I was hopeful that I would be able to proudly display my newest MF shares to you guys today so you could impugn my poor fund-picking abilities. Sadly, it's not to be. I placed the order last Thursday (19th) at 1522 and 1541. According to my interpretation of Datek's rules of the road, any order placed before 1600 should be purchased at that days NAV. If I'm wrong, no doubt I'll be repeatedly and publicly corrected. As I recall, the order status did not change Thursday evening. As of Friday evening, the open order status was "MF order sent". Oops! That's not according to Hoyle. I should have owned MF shares as of Friday morning, if I'm not mistaken. Okay, that was cool, I muttered to myself. I'll just wait through the weekend to see what happens. Then Monday rolls around, dark and ponderous as ever. As of 0940 this rainy morning, the order status is still "MF order sent". I finally gave up my youthfully optimistic hope that things would rectify themselves and threw an e-mail at Datek's customer support organization. That was 0945. It's now past 1300 here at the airport. and over 100 flights have been turned around. The order status is still "MF order sent" and Datek's customer support is still silent. Here's the question of the day: From what day's NAV will I pay? Thursday? Friday? Today? Do I get to pick the day? I will *ASS*ume that I still receive interest (miniscule, though it might be) on the funds tied up with this open order. Since these are, well, "trivial" purchases, I'm not as gravely concerned as others will undoubtedly be. Petey, you are so darn close to getting things perfect that I can smell it. Break out that dog-eared copy of your vi manual and polish that HTML and CGI until it shines. On a positive note: Of ALL the 1099 forms I have received from various brokers, Datek's is the only one that is (so far) 100% absolutely correct. It's a small account with simpler transactions than the rest, but it still came out on top of the heap.