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

To: Jumper who wrote (7242)	3/6/1998 12:19:00 PM
From: David Winkler	Read Replies (1) \| Respond to of 16892

I have always assumed that interest is charged on the real cash balance. This doesn't change unless you make a trade. The only thing that changes with change in value is your buying power. You have less buying power, but no more in interest charges. If this is wrong please correct me. DW

To: Jumper who wrote (7242)	3/7/1998 4:50:00 PM
From: B.K. Ohneis	Read Replies (1) \| Respond to of 16892

Jumper, You are definitely right on target. Datek should provide an answer. Someone should also write to NASDA as well as SEC. Could Datek please explain how you charge margin interests? thanks. ******************************8888 You are responding to this message from Jumper on Mar 6 1998 12:09PM EST Re: New Equity Calculations roll against the consumer. Since my EMails have gone unanswered, I will write you here. The new method of arriving at account equity is a considerable disadvantage for me and is nothing more than an increase in Datek interest rates. I have not seen much discussion on this board concerning this (My apologies if I have missed it) With the introduction of your new web site came an increase in your interest fees, however, Datek conveniently forgot to mention this fact. Account equity is no longer determined by the last trade on a stock, but by the bid on a long or the ask on a short. Not a big deal if you trade liquid issues, however, small caps and/or junk stocks I like to short often have a 7% spread yet hardly a trade goes through at the bid or ask. This is not even an intra day calculation but on closing balances, account equity determination is way off the mark. I would estimate that I am paying interest fees on an additional 5,000 a day with this switch. Real Time account equity was such a strong point of your previous service. This matter is significant enough that I am looking for an alternative trading vehicle. Could you write me back when you get a chance.