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

To: Peter V who wrote (9709)	9/17/1998 12:39:00 AM
From: peter michaelson	Read Replies (1) \| Respond to of 16892

Peter: On trying to short on a downtick I get the message back something like "Order Rejected - Cannot short on a downtick." If I make it a limit order with an ask above the current price the order is accepted. Other than knowing this, I am not the right person to ask - just don't know that much. peter

To: Peter V who wrote (9709)	9/17/1998 12:58:00 AM
From: Len	Read Replies (2) \| Respond to of 16892

Peter, if your order was placed correctly during an uptick, and it wasn't filled before it downticked, your order cannot be cancelled. If however, you place the order during an actual downtick (even though when you placed it, you thought it was still in an uptick) then it will be rejected as Peter M. said. You just have to enter a new one, sometimes over and over (happens to me often, especially on a fast moving stock). Your experience with their customer service is pretty normal, as lots of them seem to know nothing about the market and its workings. I have had customer service reps there not know what a short sale is, what Level II is, never heard of an ECN, or an Island book, or any number of things you would expect them to be well versed on. I have also had them refuse to provide me with a copy of their order print screens, when I had orders that didn't get presented to the market for an hour, when they said it had been presented within a minute. This after me telling them I had multiple sources, and copies of same, proving to them that the order never got presented anywhere. This last incident goes back a year, and I like to think (just for a little ego boost) that the stink I made then, might have helped provide the impetus to them now providing, from what I hear, such proof when requested. They have improved quite a bit lately, though, as you might have seen in my posts recently, I haven't had the black hole orders, or the other problems others are still having, for almost three months now. Maybe it's because I don't use them much anymore, nor trade the open through them, but what's fair is fair, as far as relating my experiences with them. I would try a supervisor next time, if they try to feed you that load of sh-t again. Len

To: Peter V who wrote (9709)	9/17/1998 3:25:00 AM
From: LEVEL7	Read Replies (2) \| Respond to of 16892

Peter, fill or kill orders require the broker to immediately execute the order or cancel it. The size of the order is immaterial. Also, the order may be partially filled unless you include "all or none" instructions with it. Once an initial short order is accepted (assuming it wasn't a fill or kill) there would be no reason for it to be cancelled. The only exceptions would be the order being "timed out" on Selectnet or something, which I don't believe Datek offers. If the order was placed on ISLD or with a specialist, a downtick would not cause it to cancel. Good luck