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

To: Robert E. Bailey Jr. who wrote (7424)	3/18/1998 1:59:00 PM
From: Scott Pedigo	Read Replies (1) \| Respond to of 16892

Somebody explain to me how Datek figures Buying Power and Margin. Today my portfolio said that I had $8,235 CASH in my margin account along with 2000 shares of THQI at about $18.50. I try to enter a buy order at $19 for 400 sh THQI which should cost $7,600, but I get "Sorry. We cannot accept your order. Not enough buying power to cover trade. Short by $504.23 Cannot buy 400 shares of THQI" What was the market price when you did this, assuming that the $19 was a limit buy price? Maybe there is a glitch where they used the market price to determine whether or not to accept the order. ($8235 + $9.99 + $504.23) / 400 would be about $21 7/8.