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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 (11589)4/12/1999 10:10:00 AM
From: Jon Tara  Read Replies (1) | Respond to of 16892
 
Quotes "change" column seems wacky today, once again. It looks like the "change" column is showing the change from Thursday's close.

Once again, not silly-fast - just plain silly.



To: Sir Francis Drake who wrote (11589)4/12/1999 3:15:00 PM
From: Jon Tara  Read Replies (2) | Respond to of 16892
 
Market-maker "signaling"?

Sorry for the off-topic message, but I thought this would be a good thread for some informed opinion on this.

I just noticed something when watching a tick chart that suggests that there is MM "signaling" going on. I've occasionally seen this happen just the same way before.

I was watching the chart of BYND, when a trade printed way below the bid. With the market 33 5/8 x 33 7/8, a trade (2000 shares) printed at 33 1/16 at 14:52.

Normally, I wouldn't think anything of this. I'd presume it was a late print.

However, the stock almost immediately dived. It didn't reach 33 1/16 (or at least hasn't yet) but it dropped significantly and quickly, trading as it dropped.

I also noticed a similar print on another stock in the same sector, DRIV. With the market at 49 x 49 1/2, there was a print of 1000 shares at 46 5/16 at 14:39. Guess what happened to this stock over the next 1/2 hour?

OK, so it wasn't a huge drop, and neither one dropped all the way to the "erroneous" trade. BYND only actually dropped 1/8. DRIV dropped (so far) 1 point. But there seemed to me to be a correlation, because what had been a fairly stagnent market suddenly started moving.

Is this just uninformed investors reacting to the bad print? No correlation at all? Or something more insideous going on?



To: Sir Francis Drake who wrote (11589)4/12/1999 3:51:00 PM
From: Marc Newman  Read Replies (1) | Respond to of 16892
 
I'm equally disturbed about the fact that Datek is not allowing TAVA to be margined anymore. It was 1/4 of my port but then doubled the cash hit and wiped out any buying power I would've had for my earnings trades.

It's not like it's an internet company--rather it is just a small IT company with a PE near 10.

This is a stock that has been under $5 maybe four days the entire year.

Who can I talk to besides the typical phone support gents? I either need this thing to become marginable or will have to move my shares to my DLJ account where everything is still "normal."

Thanks,
Marc