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

To: Mama Bear who wrote (8437)5/4/1998 5:15:00 PM
From: steve kennedy  Read Replies (1) | Respond to of 16892
 
Barb, I suspect they were worried about the severe volatility and margin calls for traders stuck in either a long or short position -- Who knows, they might have had a bunch of traders that bought in the 70's and held down to the 40's. If there is no margin Datek has no risk.

Steve



To: Mama Bear who wrote (8437)5/4/1998 5:59:00 PM
From: Rubber Man  Respond to of 16892
 
They couldn't *gasp* borrow the stock?

I think this is kind of getting out of hand, with KTEL et al.

Since they manually key in non-marginable stocks > $5, perhaps Datek was informed that their exposure is reaching critical limits (ie they will not be able to borrow the adequate stocks in time with their clearing company).

It's a no-brainer short at the open- whoever pulled the trigger
should count themselves lucky.


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