Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: CatLady who wrote (11004)	2/12/1999 1:01:00 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 16892

Datek order representation, and execution part II How doesn't it work on the nyse: -------------------------------- Note that SFE at this time is dull, hence the aren't much other bidders around. I entered an order to (short) sell SFE at 41.5. 200 shares. In the time&sales this ask is displayed at time of 12:23:49 The best bid is 41 7/16 from NYSE, time: 12:19:54 Trades are done at 41.5, one with 400 shares at 12:23:56 on the NYSE - no execution. Note that noone else is asking 41.5 only me with 200 shares, and also not at other regional exchanges. I remove my order and in the next minutes there is a best bid 41.5 for 1100 shares on the NYSE which is at time 12:26:47. So I enter to hit this bid (uptick!) with 300 shares. Not executed, never... But see: The NYSE ask at 41 9/16 is increased from 2400 to 2700 (12:31:55) I cancel my 41.5 order and the NYSE ask at 41 9/16 decreases again to 2400. (12:34:09) Would you please tell that my order is marked up 1/16 ?? I enter a new one at 41.5 and again the 41 9/16 ask goes up to 2700. 12:34:34. And see. Finally the 41.5 bid is eaten up at 12:47 and I sit comfortably at the ask or somewhere else??? Would Datek mind to explain me how that come?? 2 examples within 2 days, well documented and printed in quote.com time&sales, as well as the bid ask situation on the NYSE... Nuff' said, I am awaiting an answer from Datek. Note that it is now difficult to get into SFE. There are not much upticks. C.