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

To: Sir Francis Drake who wrote (11336)	3/24/1999 1:05:00 PM
From: Sir Francis Drake	Read Replies (1) \| Respond to of 16892

In any case, I'm not implying that anything untoward is happening at Datek - I just wish I knew more about the exact order routing and handling at Datek, so that I could adjust my trading. Most of the time the exectutions are superb. But sometimes... I don't know - maybe they Snet out some of these orders (it can take some 10 seconds to cancel that, but I get "cancelling" going on for much longer), and the executions can take 30 seconds on some of these. Oh, and BTW, it's depressing that I can't even rely on the "time stamp" on Daily Activity. After some of these outrages with the "cancelling" going on and on, I look just to see how long it took to execute me - it shows no time elapsed - as if it was an instant exectution - yeah, right.

To: Sir Francis Drake who wrote (11336)	3/24/1999 3:30:00 PM
From: nick nelson	Respond to of 16892

Not saying they do, and not saying they don't.... Maybe they have lost so many customers and/or so much revenue due to Datek's OVERLY restrictive margin joke that they have had to resort to more overt SCALPING on daytrader's executions? A sign of desperation or just slowing revenue growth? These are not high volume days... just a slow, lazy market drifting down. Once the SEC and broker-dealers realize that "taking down" the market only "kills" the action... greedy MM's will break and run. Alan, Robert, and Arty Fagan are worried about the asset bubble... therefore knocking the snot out of margin in the Internet sector. There is a whole other-market out there just waiting for a run-up! IMO,nick

To: Sir Francis Drake who wrote (11336)	3/24/1999 5:11:00 PM
From: Dan Clark	Read Replies (1) \| Respond to of 16892

Sir Francis, I've encountered similar problems with Datek. I've extremely concerned about the changes that I've seen lately. These include: Non-marginable stocks, non-shortable stocks, trades that take forever to cancel, etc. Have you thought about switching? If not, why not? (If I can be so bold.) I'm considering a direct-entry broker like CyberBroker (CyberTrader). Any thoughts on them? Regards, Dan.

To: Sir Francis Drake who wrote (11336)	3/24/1999 5:40:00 PM
From: henry jakala	Read Replies (3) \| Respond to of 16892

Well... it says "cancelling.." for up to 1 minute - as if it's waiting for a reversal... which happens, and then it executes me! So, I end up with a loss. yup - i notice similar situations with limit orders where limits are outside of current bid/ask - on many occassions trades have gone thorugh at my price yet i remain unexecuted until the limit is reached - could it be someone is trying to pocket the difference on us ?? could it be datek has found a new means by which to scalp our trades ? could it be that maybe that's where all the missing datek bandwidth goes - into trading against us ! nawww - that could never happen - nevermind my rantings - just another paranoid behind this keyboard ps - i notice many quirky timestamps - once emailed datek about them - basically said to not worry about it - so i'm not worried