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

To: Len who wrote (9765)	9/23/1998 11:57:00 PM
From: Esteban	Read Replies (1) \| Respond to of 16892

This is a confusing series of posts. I've always been able to reverse positions with one commission. I remember specifically reading on the Datek home page about this feature. Early this year, I used to trade SPY everyday, always reversing for one charge of 9.99. Datek really went to bat for me today. I tried to cover a short at 11:12 at 20 1/4 between the spread of 20 1/8 - 20 5/16. There was a trade 1 minute and 45 seconds later at 20 1/4 of more shares than were shown on the bid that was now 20 1/4 (I thought my shares were represented on the bid), and then the bid jumped and never looked back. Turns out my shares weren't traded as part of that trade. I called Datek and after checking the particulars, they said they would contact their NYSE counter party, just don't cancel the order. So I was eventually filled at 12:53 at 20 1/4, even though the current price was 21 1/8! On the negative side, NYSE trading near the close has gotten worse. Not only do the orders placed after 15:59 never leave Datek, the orders placed a minute or so earlier have not not been represented. Some have been filled off the exchange if they were marketable, but that's it. I hope this improves. Just a week ago if I beat the 15:59 deadline, I would get representation on the NYSE, and the fills I got were generally executed there. Esteban