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

To: gbh who wrote (8234)4/29/1998 9:13:00 AM
From: Jon Tara  Respond to of 16892
 
Counter-intuitively, I seem to get most of my buys that are filled at the bid during "feeding frenzies" on heavily-traded stocks when a stock is moving up rapidly. (This generally won't work on thin stocks, however.)

My theory is that it's the volume that matters - there are so many shares changing hands, both ways, that you are almost certain to get filled. Sure, the rally is being bought - it's also being sold into. And, amazingly, a large percentage of those selling into a rally are willing to take the bid. I suppose there are also a lot of market sell orders floating around when this happens.

Try it - the next time you see that characteristic thrashing in the water, don't chase the stock - be a miser and see what happens! :)



To: gbh who wrote (8234)4/29/1998 1:17:00 PM
From: facai  Read Replies (1) | Respond to of 16892
 
I was happy with a trade done with Datek this
morning. I set a limit sell order and didn't
think the price would be hit. But two hours later
when I checked, it order was executed at my
limit price which is also the high of the day (so far).
The price of the stock had since dropped 7/8.

I thought that Datek deserves some credit for
a good fill.


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